Michael James, head of institutional business development at Pyth developer Douro Labs, said oracle networks like Pyth are disrupting the $50 billion financial data industry, which provides critical price information to exchanges, brokerages, trading firms and other institutional entities.
The executive said that Pyth Network's data-pulling model sets it apart from traditional pricing oracles, allowing customers to pay for data on demand, thus reducing costs for institutions that rely on real-time market data.
Pyth is expected to achieve significant growth in 2024
The Pyth oracle network provides real-time market data and price information for cryptocurrencies, stocks, foreign exchange markets (FOREX), commodities, and interest rates. In December 2024, Pyth announced the launch of real-time oil pricing data on more than 80 blockchain networks.
Pyth developer executive: Oracle network is disrupting the $50 billion financial data industry
2025-05-17 18:42:45
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