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Scanning fast growing cryptoassets

Undecided – API3

Posted on August 31, 2023September 3, 2023 by admin

Summary

It has been one of the top gainers in the recent 1 week. Half expecting it to crash right after it rallies such a high amount, it stays high. That is abnormal basing on pure technical analysis standpoint. So I looked at the number of transactions in the blockchain, and I found out that the number of transaction count is tremendous

Price Movement Last 1 week

Blockchain Transactions

shortcode

Transaction Count

Appendix

Evaluation

This evaluation is generated by ChatGPT 4.0 basing on the entry found on Coinmarketcap.

API3 using the criteria we discussed earlier:

  1. Purpose & Use Case (Utility):

    • Addressing the "Blockchain Oracle Problem" and aiming to facilitate direct connections between APIs and smart contracts.Score: 9/10

  2. Real-world Application:

    • The project is targeting a real challenge faced by smart contracts in terms of data reliability and timeliness.Score: 8/10

  3. Team & Advisors:

    • The team members have diverse backgrounds, with experiences from blockchain labs to large tech companies like Facebook.Score: 9/10

  4. Technology & Whitepaper:

    • The project has introduced innovative concepts like Airnode and emphasized their vision through the whitepaper.Score: 7/10

  5. Scalability:

    • Specific details about scalability are not provided, but being based on Ethereum, scalability will be as per the underlying chain.Score: 5/10

  6. Market Potential:

    • Given the issues with oracles and the importance of APIs in feeding blockchain data, the project has significant market potential.Score: 8/10

  7. Adoption:

    • The project had a successful token sale and is listed on major exchanges. It suggests some level of adoption.Score: 6/10

  8. Tokenomics:

    • The token distribution is clearly laid out with details of allocations for various stakeholders and vesting periods.Score: 7/10

  9. Community Support & Engagement:

    • No specific details about community size or engagement are provided.Score: 5/10

  10. Regulatory Compliance:

  • No details on regulatory compliance are mentioned.Score: 3/10

11. Security:

  • API3 is an ERC-20 token based on Ethereum, a secure and well-established blockchain. However, specifics about security audits are not provided.Score: 6/10

Overall Score: 73/110

This is a broad evaluation based on the information provided. It's crucial to consider this as a preliminary analysis. Thorough research and consultation with financial professionals are essential before making any investment decisions.

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