Why API3 Will Skyrocket In 2023?

Last Updated December 29th 2022
5 Min Read

Consider diversifying your portfolio by investing in AP13, a growing cryptocurrency. 

Blockchain technology has been growing steadily for the past few years, and it seems nothing can stop its growth now. In this competitive market with a plethora of cryptocurrencies available, crypto enthusiasts are continuously looking for the next big coin. A unique crypto token that has really made investors sit up and take notice is API3. 

Advanced Encryption Standard 13 (API3) is an encryption algorithm used in the crypto industry. It was created by the National Institute of Standards and Technology (NIST). The project intends to replace the older Advanced Encryption Standard (AES) algorithm. The API3 protocol is a collaborative project aiming to provide standard API services to smart contract platforms in a decentralized and trustworthy manner. It is governed by the API3 DAO, a Decentralized Autonomous Organization (DAO). 

Could AP13 skyrocket in 2023? Read on to find out.


Why Choose API3? 

API3 is a project that solves the issues that smart contracts face while accessing reliable data. The project aims to allow the creation of decentralized APIs, which would be managed and monetized at scales. The team behind the project has noted that blockchain technology’s role in modern society is growing slowly but surely, as adoption progresses.

An application programming interface (API) is a thoroughly documented and defined protocol used by Web and mobile applications. APIs allow them to interact with one another by exchanging services and information. By using APIs as the channel, online businesses have become capable of offering their services and data as monetizable service modules, which developers can easily integrate into their applications, thus significantly improving efficiency in terms of cost and build time.

As blockchain technology plays a big role in the economy, from decentralized finance (DeFi) to supply chain management, the team behind API3 says that it has never been more important for smart contracts to provide timely and reliable real-world data. 

Notably, API3 was founded by Heikki Vanttinen, Burak Benligiray, along with Saša Milić. The team unveiled the whitepaper back in September 2020. API3 is the native utility token of the platform, which can be used for a variety of purposes like governing the API3 DAO and voting on project upgrades. 

API3 has successfully positioned itself as a crypto project with immense growth potential, making now a good time to invest in API3.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Is API3 Going To Skyrocket In 2023? 

API3 is considered more secure than AES and is currently used by a number of organizations and companies in the crypto industry, including Microsoft, Google, and Facebook. Its main objectives are to provide a more secure encryption algorithm and help transition the crypto industry to newer technologies. It is also being considered for use in future versions of the Bitcoin protocol.

The API3 network aims to solve one of the biggest problems associated with APIs, connectivity. API3 aims to help bring the decentralization of smart contracts to the next level by offering APIs to run their own nodes, which would lead to superior data transparency to the factual data source. 

For these and many more reasons, API3 is poised to skyrocket in the future. 

Don't Miss: API3 Coin Price Predictions

Factors That Help API3 Surge To New Heights

Solving the Blockchain Oracle Problem 

The biggest contribution of API3 is that it solves the Blockchain Oracle Problem. Oracles are simply a form of middleware that is said to sit in between smart contracts and APIs, thus increasing the overall centralization and cost. API3 intends to solve this problem by simply allowing API users to operate their own nodes.

APIs represent a largely established standard in app development and software, and API3 is said to provide a way for the world’s data to be fed into the blockchain applications with the standardization and ease provided by API connectivity.

Reliable and secure real-world data

For years now, data has been the most valuable asset and is crucial for running blockchain’s smart contracts. Through them, all other blockchain products. As a result, it is crucial for data used by smart contracts to be reliable, fresh, and delivered in real-time, and API3’s solution is capable of enabling that. 

While data needs to arrive quickly and from reliable sources, it is also instrumental for it to be transparent so that there is no need for trust when using smart contracts and blockchain. If everything is clearly visible, there is no room for disputes, making smart contract-involving processes faster and more efficient. 


API3 created light and robust middleware called Airnode that is extremely user-friendly and efficient. Most importantly, the tool can be deployed in minutes, enhancing transparency and substantially reducing transaction fees in the process. The tool was created with efficiency in mind, and so far, it seems to deliver on its promise to skyrocket API3 to new highs. 

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Bottom Line 

API3 is potentially the most advanced solution for bringing reliable data to smart contracts in a transparent, efficient, and cheap way. Its contributions to the sector could potentially lead the crypto industry to discover new use cases or the realization of existing ones.

And, if time shows that API3’s solution is not only advanced but capable of being implemented on other blockchains, it might completely replace blockchain oracles that are currently considered the main avenue for bringing data from the real world to the blockchain. 

All these factors have caused experts to believe and predict that API3 will skyrocket in 2023 and beyond. So consider adding this growing cryptocurrency to your investment portfolio for long-term gains.

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