API3 is a decentralized platform that enables smart contracts to access real-world data through oracles. It aims to connect blockchain applications with external data sources, allowing them to interact with real-time information securely and efficiently. The platform utilizes a network of decentralized oracles operated by data providers, ensuring that the data fed into the blockchain is accurate and reliable. By doing so, API3 enhances the functionality of decentralized applications (dApps) and supports various use cases across industries, including finance, insurance, and supply chain management.