Crypto has been historically “hard to use.” A Dapp developer needs to connect to a blockchain node, learn native remote procedure calls (RPCs), collect popular token addresses on test nets and main nets, grab application binary interfaces (ABIs) and get their own smart contracts security audited. Developers are seeking to rebuild the future of the Web end up spending a significant amount of time on everyday chores. With the fast-moving DeFi landscape and the need for some compliance (e.g., filtering out blacklisted wallets), the learning curve can feel unending, a daunting task to even begin.
Throughout building Dapps together for the past 2+ years, we found ourselves re-using numerous pieces of code from past experiences. Other Dapp developers also saw those same pieces of code to be functional, so they began packaging parts of our repositories into an API suite. Now, we are excited to launch The APIS, allowing for once complicated tasks to be completed with a few API calls.
Our suite empowers both Web 2.0 developers and non-technical entrepreneurs (using no-code add-ons) to build the future of the web.
We hope to save these builders significant amounts of time and stress such that they can focus on building experiences that their users love.
These builders will be significant for the growth of the Web 3.0 space, as the supply of blockchain-fluent developers cannot keep up with the demand, as both space and knowledge to enter grow together. The crypto market just joined the $1trillion club, not including private companies whose businesses are highly dependent on blockchain technology. However, common consensus shows us that blockchain-fluent developers are only in the thousands worldwide. This implies the presence of a significant bottleneck for the thousands of builders wishing to enter the public blockchain space, those willing to develop, launch, and move the ecosystem forward.
Example of The Bottleneck
Let’s look at an example of this bottleneck. A builder wants to create a native token for a quick proof of concept (POC) but can’t find an intelligent contract developer willing to help them at a reasonable price. Thus, they decide to learn by themselves. But learning oneself is difficult, taking weeks to be comfortable and months to feel average. One needs to install a wallet-client, retain some money to transfer assets (e.g., ETH) to the wallet, code a solidity smart contract to launch the token, and use a third-party node connecting to an Ethereum node through remote procedure calls (or run their node) to connect to the web 3.0 infrastructure.
However, all of this can be accomplished using The APIS with a straightforward call, using API endpoints they are accustomed to seeing from their days in Web 2.0 application development.
The APIS significantly smoothens the supply-demand mismatch of blockchain developers.
The example we provided above is the simplest one we could. Our endpoints currently target every possible DeFi transaction, be it conducting trade on UniSwap, Matcha, or Curve, investing in a Yearn vault, or sending a payment to a friend.
Supply can finally meet demand.
What is APIS Genesis ？
As exemplified above, The APIS is the read-write protocol for global blockchain development. Our initial focus is on decentralized finance, the most prominent use case of public blockchains by miles. However, we will eventually expand to cover all public datasets and actions, rendering The APIS a global database layer, providing a global API for builders globally. Through subroutine calls by different APIS nodes, APIS-core seamlessly propagates requests with extremely low throughput. This gives developers instant access to existing blockchain infrastructure without the drawbacks of expensive overhead and with the benefits of pronounced security. In addition, the interoperability of multiple blockchains is enabled through APIS-unified, where a single, customizable interface is applicable for all blockchains.
Indexing the blockchain using APIS yields roughly a 10x increase in throughput, not even including the time and money saved from hiring or training additional developers in Solidity or Vyper.
API Token Usage
The APIS token underpins all actions on the protocol: it ensures scalability of the APIS network through validation of our layer-two network, provides security of the APIS network through collateralizing calls by APIS Nodes and Gateways, and ensures maintenance of the network by giving the community public governance rights over the protocol. The API token will be distributed to The APIS community based on their usage and contributions to the network. In addition, third-party developers will deploy their own APIS Nodes and Gateways, earning API tokens for doing so and consequently expanding the protocol to attract more builders.
Read the APIS whitepaper for more information on this topic.
What’s next….
With APIS mainnet beta launched, DeFi, oracles, Ethereum 2.0, IPFS, and Binance Smart Chain are now supported, on top of the existing base platform and APIs from version 1.1.0.
In Q1 of 2021, the formal launch of The APIS will occur, giving users the ability to develop Ethereum, Binance Smart Chain, and Solana quickly.
Additionally, governance will be deployed, contributing to the eventual decentralization of APIS. For further roadmap information and updates, go to https://www.theapis.io/roadmap.
👋 About THE APIS:
The APIS is an indexing protocol for reading and writing to open networks. Making APIs open and accessible to power a decentralized world.
