Nadgradnja arhitekture API3 je prihodnost decentraliziranih oracle omrežij

CoinFund’s investment thesis for API3

Naložbena teza

• For smart contracts to unleash programmable money onto the world, they need to access the world’s data as their inputs
• Oracles, tehnologija, ki je odgovorna za dostavo podatkov v pametne pogodbe, je med najbolj kritičnimi komponentami infrastrukture blockchain in uspešna omrežja Oracle bodo pridobila veliko vrednost
• Dosedanje rešitve Oracle so se zanašale na posrednike tretjih oseb, kar ni optimalno z vidika stroškov, učinkovitosti, varnosti in vključevanja deležnikov
• Na podlagi nove arhitekture, ki povečuje nezaupljivost, decentralizacijo, usklajevanje deležnikov in ki znižuje stroške integracije in dostave, bo API3 verjetno preoblikoval zelo velik trg ponudnikov podatkov, ko bo globalno sprejemanje pametnih pogodb in decentraliziranih aplikacij napredovalo.

Eden najbolj transformativnih napredkov v blockchainu je bila implementacija Ethereuma in pametnih pogodb. Pametne pogodbe omogočajo, da se denar, kapital in sredstva obnašajo na programabilen način, tj hkrati decentraliziran in odporen na cenzuro. Ta inovacija je pokazala resno rast. Samo v preteklem letu so aplikacije za decentralizirano financiranje (DeFi) od začetka leta 650 zrasle s ~2020 milijonov USD sredstev, namenjenih za izposojo, posojanje in trgovanje. to over $22.5B od 15. januarja 2021, rast več kot 3300 % v enem letu. Decentralizirane borze (DEX) so samo decembra 25.1 obdelale 2020 milijarde USD obsega trgovanja, v prihodnje pa se pričakujejo dvomestne mesečne stopnje rasti. Na splošno so primeri uporabe decentraliziranih aplikacij neskončni in predstavljajo temeljno motnjo na širokem področju financ, digitalnih storitev in trgov.

For smart contracts to unleash programmable money onto the world, however, they need to access the world’s data as their inputs. Almost all of this data exists “off-chain”, outside of blockchains, and is stored in centralized databases. To solve this problem, the technology known as orakle deliver the data applications need and inform their execution. Moreover, oracles need to be trustless (do not require trust), or they can manipulate the smart contracts by falsifying data, which is known as Težava Oracle. API3 is improving upon prior architecture and is building a highly performant and commercial oracle network. CoinFund is proud to support the API3 team on their journey to develop the future of oracles.

There are a number of existing oracle networks today that operate across different blockchains. The most notable network is Chainlink, one of the earliest companies working on this problem and today the dominant solution in the market. Other approaches include Band Protocol, Tellor, and DIA. These oracle products work by having third-party intermediaries operate as nodes that connect API data sources with decentralized applications, as historically this architecture was the only practical way to deliver the data to smart contracts. This is because API providers were not able to easily connect directly to blockchains and until recently the demand for data from decentralized applications had been relatively small compared to more mature markets. This approach, however, has several notable drawbacks:

1. Brez neposredne monetizacije za ponudnike podatkov. Ponudniki ne nadzorujejo dostave podatkov in ne morejo učinkovito upravljati monetizacije svojih dragocenih podatkovnih tokov.
2. Veliki stroški integracije. Pogosto je potrebno veliko razvojnega dela, da se vozlišče tretje osebe poveže z virom API-ja, kar povzroči precejšnje operativno delo in stroške.
3. Neučinkovita dostava. Prisotnost posrednikov tretjih oseb, ki se morajo različno usklajevati za dostavo pravilnih podatkov, poveča skupne stroške dostave podatkov v pametno pogodbo. Poleg tega, ker se morajo ti posredniki usklajevati in igrati igre soglasja, postanejo ranljivi za napade Sybil, ki predstavljajo tveganja za varnost podatkov.

API3 solves all of these problems by focusing first and foremost on enabling connectivity for the API provider to eliminate the need for third-party intermediaries. API3 provides a simple, drop-in solution called Airnodes to data providers that allows them to connect their data directly to smart contracts. In this way, data providers again become first parties in the path of data delivery. The Airnode solution serves as a trustless on-chain proxy for APIs to interact with any smart contract on any blockchain. Data providers can feed their data to decentralized applications with minimal integration costs. Airnodes are serverless nodes and can be easily integrated using existing technologies without the need for dedicated blockchain development resources. By joining the API3 network, API providers are able to monetize their data without intermediaries. Additionally, consumers of the decentralized APIs (dAPIs) have full transparency into their data source and potential Sybil attack vectors are eliminated.

In addition to the unique architecture of Airnodes, one of the most crucial approaches of API3 to the oracle problem is its structure as a DAO (Decentralized Autonomous Organization). The API3 DAO is a community-governed organization of token holders who drive the inclusion of new data sources, manage the payment of data streams, and provide a novel insurance pool and dispute resolution mechanism to protect data consumers. The API3 DAO works as follows:

API3 token holders can stake their tokens which will grant them voting power in the API3 DAO. The funds staked in the DAO function as an insurance pool designed to compensate smart contract users in the event of an API malfunction. The stakers are compensated for this risk by receiving protocol rewards. By having an insurance pool with token holder assets, the DAO is incentivized to only integrate with high quality data providers and grow at a measured and responsible pace to prevent data issues. This serves to align token holders’ interest in growing activity levels with smart contract consumers’ need for accurate and reliable data. In addition, disputes will be resolved in Kleros Court to maintain decentralization in managing malfunctions. However, more than just the efficiency gains from improved coordination, a DAO provides a structural advantage due to its ability to align stakeholder incentives (data provider, data consumer, and token holders) and achieve broad decentralization.

The API3 team, led by Heikki Vänttinen, Burak Benligiray, Saša Milić, and André Ogle, is one of the most well-positioned teams to solve the problem of oracle networks. They have extremely deep blockchain experience, particularly working in oracle networks. Several of the key members of the API3 team formerly operated the CLC Group, which operated nodes on the Chainlink network. The team also previously built out the Honeycomb marketplace for premium APIs. Outside of their substantial experience and expertise, API3’s DAO structure allows for improved coordination and incentive design benefiting organizational scaling.

Technological advancement follows an arc of innovation and API3 represents the oracle solution on the cutting edge. At a time when blockchain usage is expanding at an incredible pace, API3 is providing a solution to bring onboard the major data providers, working with them as first parties to deliver data, while simultaneously solving for decentralization, security, and cost. Data delivery to smart contracts is one of the most foundational components of the blockchain ecosystem and the networks that do this well will become incredibly demanded and valuable. Today, the first mover network, Chainlink, has a fully diluted market capitalization of $19.8B. By contrast, API3 is currently valued just over $200MM. We expect data usage will continue to grow at an exponential pace as blockchain adoption accelerates. API3’s market leading technology and DAO based structure position it to take a dominant role in the future of oracle services and we could not be more happy to support them along the way.

Source: https://blog.coinfund.io/api3s-architecture-upgrade-is-the-future-of-decentralized-oracle-networks-b2f47031a4a6?source=rss—-f5f136d48fc3—4