Isn't it time you started taking your API more seriously? Even if you want to improve features, adjust the price plan, and adopt a new marketing approach, the more study you do, the more confused you become. That's why you're finding it difficult to keep up with new subjects, tools, and techniques. New concepts, techniques, and technology have entered our world as a result of the popularity of APIs.
With the increase in functionality and popularity of APIs, APIs have started to occupy a large place in our world and have become one of our greatest friends. For this reason, a corporate company or enterprise has started to use APIs more and they are trying to increase their awareness. There is an Hackathon we want to talk about but firstly we will mention about the platforms and partners of this Hackathon.
Finage is one of the quality data providers where you can obtain real-time data powered by artificial intelligence and modern technologies in accordance with your algorithmic trading strategies. One of the major advantages of Finage is that subscription prices are the same for both individual investors and large financial companies. Even if you are interested in stock exchange as a hobby, Finage offers you the data quality it provides to large investor companies at the same price. The server, whose slogan is "financial data for everyone", enables those who want to create financial applications and platforms to buy and sell financial data, applications, investor finance software and tools.
Finage provides real and historical data with global stocks API, forex APIs, cryptocurrency APIs and key financial statements APIs using Websocket with its API. Finage API provides up to 100% price accuracy and real-time stock price data compared to other expensive market data transmitters. Regardless of your account type or which country you trade from, all Finage users can access the US stock APIs offered by Finage.
Airnode: The API gateway for blockchains
Airnode is a node made specifically for oracles from the first party. Instead of using third-party providers, API providers are using Airnode to connect to oracles. This extensive fieldwork has influenced several parts of the API3 solution. The Air node will link to the Air node in the same way as a typical oracle would, allowing users to view and interact with the oracles.
When I describe Airnode to someone who isn't familiar with APIs, I refer to it as "an API gateway for blockchains," and they understand. It's worth noting that I avoided using the word oracle. In fact, doing so would be counterproductive. This is not just due to the fact that most people are unfamiliar with oracles, but it is also due to the fact that this is not primarily about oracles in the first place. The infrastructure that will enable the API connection is the apparent answer as soon as the problem is defined as one of API connectivity. The oracle issue, on the other hand, needs the use of third-party middlemen since it requires freestanding oracles as a solution.
An API gateway is a small cloud service that encapsulates an API backend and makes it available over the Internet. It's a managed service that will keep running until you disable it. If you try to offer them an API gateway that they would have to watch, they will be bewildered, according to experts. It may also include features like authorisation, caching, rate limitation, and so on.
Airnode: A piece of cloud service infrastructure
Airnode is a service that connects APIs. It is a piece of cloud service infrastructure, not a blockchain node. Airnode will be administered by people who have a lot of expertise with cloud providers. Airnode is just another Lego piece that will be added to the mix.
Airnode is designed to provide cloud services. A cloud service abstracts a comprehensive collection of functions and delivers them as a single service. It does not necessitate user micromanagement.
Trying to picture a piece of software being supplied by AWS, GCP, Azure, and other cloud providers is an useful litmus test for determining if it can become part of the common cloud architecture. We believe so for three key reasons.
• Airnode is meant to be hosted on a cloud provider and regards cloud providers as first-class citizens.
• Because it doesn't need to be operated or maintained on a daily basis, changing it to a managed service is simple.
• (Most essential) It comes with clear setup instructions: use it as a serverless function. In comparison, most blockchain nodes are unable to offer a one-size-fits-all solution.
Air node is a cloud service that may be used to integrate with other cloud services. It's simple to foresee cloud providers delivering API gateways powered by Air nodes with little effort. Because Air Node adheres to the existing cloud provisioning model, it is not a best-case situation.
Why should we care?
Airnode is a totally serverless Oracle node that is already available as a type of application and hosting solution. It allows API providers to expand their current business model to include blockchain. Airnode does this in a cost-effective (no subsidies required) and dependable manner. It's a strong contender for becoming an important part of the answer to the API connection issue. It's a blockchain API gateway that can be used in production and with a wide number of APIs. The project is built on Airnode's open source code and is known as "Airnode."
What’s to come with the rest of this series?
This will be a half-technical series describing what Airnode is, its unique technical aspects, and how we came to make some of the strange design decisions we did. It should be very fascinating to:
• Members who will participate in the API3 DAO and wish to learn more about the services that will be provided.
• Potential Airnode users, although not necessarily in the API3 context
• Developers interested in contributing to Airnode, either through API3 DAO funding or just because it's a cool open source project.
• Readers who are just interested in learning more about oracles
Build With API3 at Sovrython
Sovrython, Sovryn's six-week hackathon that uses the API3 Airnode to integrate DeFi data into Bitcoin smart contracts, begins on June 4th.
Not only does Sovryn mark the beginning of the powerful Bitcoin DeFi ecosystem, but it's also your first chance to innovate with API3 and win fantastic prizes.
What will you build with API3?
Do you want to take part? Join the API3 Builder Discord server and participate in the discussion. API3 and the community will assist you immediately. Also, don't forget to join Gitcoin.
Have a concept you'd like to see realized? It's something we'd want to hear. To share it with Sovrythoners, submit it here. It's possible that your proposal may be chosen as a project. Apps that use pre-integrated APIs, adding new APIs, and upgrading Airnode itself are all possibilities. Be inventive!
Sovrython comes with a number of pre-integrated APIs, including:
Finage: Market data for both traditional and crypto assets.
Heimdall: Cryptoasset social scores. It's actual community involvement, regardless of coin performance, the buzz and the dump, smart and in real-time.
API3 and Sovryn will jointly award $50,000 in prize money to winning Airnode-powered apps, as well as an extra $100,000 in grant funding for initiatives that fulfill API3's long-term vision of supplying data and bringing this critical infrastructure to Bitcoin.
API3's rewards, in addition to the $500k from Sovryn, are as follows:
First — $25k
Second — $15k
Third — $5k
Judge’s Choice — $5k
Come build with us!
A project must meet one of the following assertions to be eligible for the prizes:
• Demonstrating a creative use case for an Airnode-enabled API and demonstrating their ability to launch this application.
• Adding Airnode protocol capabilities that will increase performance, compatibility, or expand use cases.
• Improve an existing application or protocol by using an Airnode-enabled API.