API3 has unveiled a strategic collaboration with the launch of XLayerOfficial. This collaboration marks a pivotal moment for both entities as they join forces to revolutionize decentralized data provision in the crypto space.
The announcement, made public earlier today, outlines API3’s commitment to supporting the builders of XLayerOfficial, signaling a new era of innovation and collaboration within the industry.
We’re excited for the launch of @XLayerOfficial and are committed to supporting their builders. 💪
API3’s oracle stack will be deployed on X Layer soon, giving developers access to over 160 decentralized data feeds integrated with @OEVNetwork to recapture protocol MEV. pic.twitter.com/nr5lrBMJS1
— API3 (@API3DAO) April 16, 2024
API3’s Oracle Stack Integration with XLayerOfficial
At the heart of this collaboration lies API3’s oracle stack, set to be deployed on XLayer in the near future. This integration will empower developers with access to over 160 decentralized data feeds seamlessly integrated with the OEVNetwork. The objective is to harness the potential of protocol MEV (Miner Extractable Value) by providing developers on XLayer with reliable and verifiable data feeds.
XLayerOfficial, built on Ethereum’s Layer 2 network utilizing zkEVM validium technology, offers unparalleled scalability and low fees. With the integration of API3’s oracle stack, dApps on XLayer will gain the ability to access decentralized data maintained on-chain without the need to manage any infrastructure.
This approach ensures source transparency, eliminates middlemen, and facilitates the efficient delivery of real-world data, enhancing the overall user experience and reliability of decentralized applications.
Empowering Developers with Enhanced Functionality
One of the key highlights of this collaboration is the incorporation of API3’s QRNG (Quantum Resistant Random Number Generator) technology. This feature will provide developers on XLayerOfficial with access to a cutting-edge solution for generating truly random numbers on-chain.
The significance of randomness cannot be overstated, particularly in applications such as NFT minting, blockchain gaming, and games of chance, where fairness and trustworthiness are paramount.
Looking ahead, the imminent launch of the OEV Network promises even greater opportunities for protocols leveraging API3’s decentralized data feeds on XLayerOfficial. With a vertically integrated solution to recapture MEV, dApps will be able to seamlessly access data feeds on the API3 Market, activate the OEV Network, and begin earning rewards.
This synergy between API3 and XLayerOfficial sets a new standard for decentralized data provision and underscores the transformative potential of collaboration within the blockchain ecosystem.