April 24, 2024

The Pyth network is a first-party financial oracle solution that aims to make valuable market data available to the public. The network accomplishes this by incentivizing market participants — trading firms, market makers, and exchanges — to share price data collected as part of their existing operations directly on-chain. This first-party price data is then aggregated on-chain and made available for use by the network on- or off-chain applications.

The cryptocurrency world never sleeps, and new tokens emerge on a daily basis across the markets. The Pyth network is designed to source only first-party data to ensure quality, reliability, and speed. Because it prioritizes quality, newer price feeds may take a little longer to list. The Pyth network appreciates everyone’s patience as their team works to get those “long tail” data sources up and running. The team is also collaborating closely with the community of data providers to ensure that they have the incentive and capability to publish all Pyth prices.

Besides, Pyth has added two new network feeds: BRZ/USD (Brazilian digital token) and ZBC/USD (Zebec).

The Pyth team expects to see what #PoweredByPyth applications will do with them, and the team is looking to add additional price feeds to the network.

Summited by HotQA

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