API3 is an oracle platform built around cutting out middlemen by having off-chain data sources, and APIs run their own specialized oracles, which are searchable through API3’s core platform and are separated into 14 industry categories.
Access to these oracles is handled in a similar manner to access to the underlying API, with a price structure based around oracle API calls. Naturally, this appeals most directly to firms seeking to onboard sensitive information to a blockchain while avoiding third parties.
Another effect of this method is the scalability inherent to having a first party oracle for each API provider in the API3 network, especially as the data traffic that non-specialized oracle networks handle proliferates over time.