APIS is a unified protocol for querying and transacting with public networks, such as Ethereum, Bitcoin and IPFS. The network is open to all: anyone can build and publish RESTful APIs, called "Add-On"'s, that can be accessed by any third-party developer in the world.
Quite literally, API (application programming interface)! As APIS provides a platform for developers and users to contribute, innovate, and discover blockchain-computing interfaces that support the development of new projects and tools for web 3.0.
The applications of the API network are twofold: to create better end-user experiences and to create better developer experiences. For end-users, APIs allows developers to seamless integrate features with guaranteed 100% uptime, censorship resistance, and near-zero platform risk.
To developers, the APIS unified interface lowers the steep learning curve to allow easier developer on-boarding, and brings developers to other blockchain ecosystems by minimizing the code changes, so DApps can be run on various blockchains that have different advantages (high TPS and fast block confirmation, for examples).
APIS is open sourced and verified by community, and the return values can be verified with the blockchains to ensure data integrity. Like any software projects, especially in Alpha or Beta phase, users should be aware that bugs and run time issues could occur and use at their own risk.
To connect to a blockchain, it requires running a local node, or connect to an existing node via a 3rd party service (e.g. Infura, Alchemy), then connect and access using native RPC calls, or Web3 calls.
With the APIS, you connect to blockchain via a standard RESTful API connection which allow you to pipe through native RPC or use our high-level functional endpoints to achieve instant access.
While the APIS helps create and transaction to your blockchain wallets, it is the developer's responsibility to fund their wallets with enough gas in order to perform non-read transactions.
You can handle the gas fees on behalf on your clients via delegating wallets to smart contracts (Gnosis) or transaction only with GSN enabled wallets (converted all msg.sender() to msgSender()).
With the APIS, we intend to support one or both ways of delegating gas fees in our future APIS.
One of the most important use case -- tracking transaction status, for handling transactions, wallet monitoring, or tracking transfers, etc. Most teams are sync-ing the blockchain node into a database and perform polling to frontend receive status to provide feedback to users.
With APIS, you can subscribe to a wallet, all popular tokens will be automatically tracked, and you will receive a web-hook once there is a status change. It saves developers a lot of infrastructure and hassle.
With the transaction status tracking example above, you can see that many DApps are syncing blockchain nodes to database to enable fast query. To enable good user experiences there is already a centralized step in retrieving data from blockchain before sending to the frontend.
When the APIS features and platform stabilized, each APIS node will be run by decentralized validators. Validators require to stake platform tokens and can earn a share for servicing the platform. This is the progressive decentralization plan similar to most other crypto projects.
The key difference is that the APIS connects not only to Ethereum, it has plans to support other well received blockchains. The Graph is an excellent tool to speed up your queries to Ethereum and has many great uses cases, so it is not an "either-or" choice between the two. We can totally envision DApp developers using both for development.
The APIS project will require paying or staking tokens in order to use the service. Each validator and developer-plug-in can receive a share of the fees for using the service.
Think of it you can connect to bank accounts directly with each bank's API and sign agreements with each, or you can pay PLAID to allow you to connect to every bank.
Similarly, with the APIS, you can build your DApps much quicker, and developers determine how much it is worth for the time saved and pay the platform fee for using it.
Shain Lafazan and Calvin Pak are two technical founders of the APIS. They met while working together on a ERC721 marketplace in early 2018, and have built numerous crypto projects afterwards, from crypto wallet to crypto arbitrage trading engine and DeFi yield farming project called the Titans Finance. From these various projects, they realized that there are common challenges for developers and can be solved by building a suite of APIS and that's when they pivoted and started the APIS project.
Teaming with the APIS Chief Strategy Officer Andrew Bakst, a blockchain expert and fund manager, they have won numerous prizes in various hackathons include: Wyre and DAI Hackathon, Betaworks Let's Fix the Internet Hackathon, and the most recent ETHOnline Global 2020 hackathon.
The team is also the inventor of the Molecule Protocol, Parimutuel Protocl, and the Maximus -- a people's crypto bank.
The APIS is truly decentralized. There are members in the San Francisco Bay Area, New York City, Las Vegas, Seoul, and Shanghai.
The APIS project is open sourced and you can start using the APIS unified interface or native RPC calls or you can also contribute to the project roadmap by submitting pull requests or issues on our Github. More documentations and access details will be made available soon.