May 18, 2022 3 minutes read
Announcing the Openfabric Partnership with API3
We are pleased to announce a partnership and integration with API3, the largest selection of data providers in Web 3.0. As a result of this partnership, API3 services will be available for dApp developers to use on the Openfabric platform. This will further facilitate developers in the creation of cutting-edge products and services based on AI and ML algorithms while also boosting the development of Web 3.0 products.
About API3
API3 is the leading first-party oracle solution that makes real-world data accessible by smart contracts. With Airnode, API data can be queried from blockchains without having to use specialist node-operating middlemen. This architecture both eliminates the Sybil-vulnerable third-party node layer and reduces fees by cutting out the “middleman tax” paid to these node operators for their services.
API3 is the perfect fit for any blockchain-based data service seeking to sell directly to consumers (since it leaves out node-operating middlemen).
Consequently, more than 150 data providers have joined the API3 Alliance in the past few months. In short, the group’s continued growth is helping to accelerate the development of Web3. The API3 Alliance is the largest collection of data providers on Web 3. By employing Airnode, API3 Alliance members empower decentralized applications to directly call their Web APIs. API3 is also building decentrally governed and quantifiably secure data feeds to power Web 3.0 applications without employing third-party intermediaries.
In essence, API3 eliminates the need for third parties since data providers can become their own blockchain oracles.
What Does This Partnership Entail?
Both Openfabric and API3 share a common vision for a scalable Web 3.0. This synergy will foster the development of AI products and services as new use cases will be made possible with the help of API3 integration in the Openfabric platform. It is an exciting prospect for AI and Web 3.0 developers and enthusiasts.
As a result of this partnership, Openfabric has implemented Airnode – a Web3 middleware that allows any web API to directly connect with any blockchain application. Due to this integration, blockchain developers can conveniently query AI and ML algorithms.
Developers from any supported blockchain will be able to access the Openfabric platform using the Airnode integration. This will enable them to create useful AI dApps for a variety of different use cases. It not only facilitates the creation of dApps but also makes the whole process cost-effective and hassle-free. The best thing is that these apps will not be limited to a single industry or use case. The possibilities are simply endless.
Message from the Leadership
This partnership is an important milestone for the Web 3.0 community. Here is what the leads from the two projects have to say about this collaboration:
Andrei Tara, CEO, Openfabric.ai
“Openfabric & API3 share a common vision of augmenting on-chain infrastructure with additional intelligence and data. Our partnership reinforces our beliefs in creating a market for AI resources and turning them into commodities accessible to the Web3 community”
Dave Connor, API3 BD Lead:
“Creating a dapp using Openfabric’s AI services has the potential to enable many new, interesting use cases. API3 is excited to help Openfabric offer this to all our supported chains, and look forward to seeing what developers can build”
More About Openfabric
Openfabric is a decentralized AI ecosystem where anyone can deploy, manage or benefit from AI using blockchain technology. Our mission is to scale AI adoption and assist in its democratization.
To achieve this, Openfabric has built a secure, scalable, interoperable, and decentralized platform that makes it easy for AI researchers and developers to connect to consumers and businesses that need AI capabilities. It will help anyone who wants to tap into the vast potential of AI algorithms and applications and in the creation of AI-powered products, services, and solutions of their own.
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