The Rising Importance of First-Party Oraclesby@api3

The Rising Importance of First-Party Oracles

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Third-party oracles currently dominate because it has been too difficult and risky for API providers to run first-party oracles. In 2021, a lot of buzz about first-party oracles was heard in the world of smart contracts and decentralized applications. API3 spent the last year building Airnode, oracle software that addresses and eliminates all of the reasons API providers haven’t wanted to run their own oracle. Airnode is an oracle software that addresses and eliminates all of the reasons API providers haven’t wanted to run their own first-party oracle in the first place. There is a huge demand for off-chain data on Web3, particularly in decentralized finance (DeFi). The next generation of blockchain oracles are first-party.

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First-party oracle that securely & compliantly connects smart contracts to real world data


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