Oracle Networks: A Deep Dive Into Data Bridging Solutions - The TIE Research

Enter API3, The Oracleless Solution.
Application Programming Interfaces (APIs) are a standard in legacy tech for the development of software applications. Founded in December, 2020, API3 is a platform that enables data providers to bridge their existing web2 API onto the blockchain. What others call the ‘Oracle Problem,’ API3 calls the API Connectivity Problem.

As mentioned earlier, the Oracle Problem is a generalized abstraction of problems that refer to the transparency, vulnerability, and decentralization of data bridging solutions on the blockchain. API3 believes that the root of the problem is that there is no inherent way for existing APIs to be connected to the blockchain. With that in mind, their oracle solution aims to directly bridge the gap left by developers being unable to access traditional APIs by utilizing an innovation called Airnodes.