API3 Provides Decentralized Data Feeds to Base, a Coinbase incubated Ethereum L2 Solution

API3’s managed dAPIs are available on Base.

Developers on Base can now “access over 120 verifiable, decentralized data feeds powered by first-party oracle nodes, which are operated directly by the data providers.”

Base is an Ethereum L2 solution incubated by Coinbase that is “built on Optimism’s open-source OP stack.” Base is designed to be “a secure, cost-effective, and developer friendly way for dApps to leverage Coinbase’s products and distribution to help build a global financial system around a frictionless user experience.”

Jesse Pollak, Creator of Base, said:

“The introduction of API3’s dAPIs expands the oracle landscape on Base for developers looking for verifiable, decentralized data feeds to power their apps.”

Developers looking to utilize managed dAPIs on Base can visit the API3 Market. The API3 Market “provides an easy way to browse, access, and manage a wide variety of data feeds, including crypto, forex, equities, and commodities.”

Managed dAPIs are changing “the way dApps use real-time market data. Delivered as a managed service, they abstract away operational factors like gas management, maintenance, and monitoring.” Developers looking to “utilize managed dAPIs simply need to read the associated data feed.”

API3’s first-party oracle architecture “maintains data onchain directly from the data providers. This decentralized and verifiable design eliminates rent-seeking middlemen and offers a more secure and efficient method of bringing data directly on-chain.”

One of the key benefits of the managed service is “the ease of use for dApps and chains requiring oracle services.” Rather than having to manage their own infrastructure, dApps can simply read data “that is directly maintained onchain.”

This solution simplifies the way data is “maintained and also facilitates a quick and easy migration to Base for dApps operating on other EVM-compatible chains, allowing for the rapid adoption and scaling of DeFi ecosystems.”

API3’s first-party oracle architecture “leverages data directly from the source. The oracle nodes are operated by the data providers themselves, bringing cryptographically signed data onto the blockchain.”

This allows dAPIs to be verified down “to the API parameters and aligns with core principles of the blockchain ethos of transparency and on-chain verification.”

Protocols like Aave, Compound, and various DEXes all “rely on data maintained directly on the consumer chain.”

API3 addresses this need by maintaining data “on the native-chain in a verifiable and decentralized way.” With the introduction of managed dAPIs on Base, developers gain direct access to “an assortment of real-world data, including crypto, forex, equities, and commodities straight from the source.”

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