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API3 is a decentralised, blockchain-based protocol that was created to provide a platform for the development of data-driven applications. It is a next-generation cryptocurrency optimised for security, speed, and scalability. The API3 protocol was designed to provide developers with a secure and easy-to-use platform for developing applications that can access and utilise high-quality data from different sources.

API3 is the result of a collaboration between researchers from the Politecnico di Milano and the University of Tokyo. The API3 team has worked to develop a protocol that is optimised for security and scalability, while also providing the necessary tools for the development of data-driven applications. API3 is powered by a secure and distributed ledger, which enables developers to securely store and access data from any source. The API3 protocol also supports staking, allowing users to stake their API3 tokens to earn rewards. Furthermore, API3 includes an incentive mechanism to reward developers who contribute to the platform.