API3 and smart contract platform Moonbeam bring off-chain data to Polkadot

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API3, a provider of decentralized APIs (dAPIs), has announced integration with Moonbeam, the project that simplifies the process for Ethereum applications to expand to the Polkadot blockchain ecosystem, making APIs effortlessly available to multi-chain applications.

The Moonbeam platform offers a full implementation of Ethereum on Substrate and allows Ethereum developers to deploy existing smart contracts and dApp frontends to Moonbeam with minimal changes. Moonbeam benefits from lower gas costs than Ethereum, and the cross-chain functionality of Polkadot.

Part of API3’s vision is enabling developers to create dApps that mimic the rich function of Web 2.0 apps. The majority of apps that people use only exist because of their ability access to a huge range of APIs. Offering tools other than price data is vital to enabling this on Web 3.0, as part of the integration, API3 will be able to offer dApp developers on Moonbeam access to the full library of Airnode-enabled APIs.

“The future is multi-chain and Moonbeam is a great way for EVM dApps to get there. We’re thrilled to bring the API3 ecosystem to apps running on Moonbeam.”
– Heikki Vänttinen, Co-Founder of API3

This integration also represents the first step on the path to deploying dAPIs (data feeds) to Moonbeam, to produce dApps with truly quantifiably secured, DAO-aggregated data. Simplifying the developer experience, Moonbeam combines full Ethereum compatibility with the power of Polkadot, including scalability, cross-chain integrations, and on-chain governance.

Via: https://www.cryptoninjas.net

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