Image source: https://twitter.com/PythNetwork
Please exercise caution. EOS Support does not assume responsibility for any potential problems, damages, or losses that may occur as a result of utilizing the services provided by the project(s) discussed in this article.
Introduction
Your robust, mission-critical Decentralized Application (dApp) often requires access to secured, real-time, multichain, low latency pricing data served from an authenticated, trusted source. Pyth Network works the same for you by blending pricing data from multiple sources using statistical methods.
The Pyth Network supports EOS with its EOS/USD price feed. This price feed is available on EOS EVM and more than 30 other blockchains.
Who are the actors in the Pyth Protocol?
The following three parties interact with the Pyth's protocol:
Publishers
Pyth's Oracle program benefits from multiple publishers contributing pricing data, enhancing both its precision and resilience.
Pyth's Oracle Program
It combines publishers’ data into a single aggregate price and confidence level using statistical methods.
Consumers
Consumers access the price information produced by the Oracle Program.
Features of the Pyth Network
The blockchain component of the Pyth Network has the following features:
Realtime Market Data
It provides real-time, secure, precise, and trustworthy cryptocurrency market information for over 30 blockchains including EOS EVM, encompassing more than 80 major markets, including Binance, OKX, and ByBit.
First Party Data
Some of the world’s biggest exchanges, market makers, and trading firms feed their data into the Pyth Network's Orcle Program.
Every Feed on Every Chain
Pyth offers more than 350 price feeds, all of which are accessible with consistent performance across 30+ supported blockchains. This enables effortless scalability to integrate additional blockchains into your application.
Data on Demand
You pay only for the data you consume, while ensuring that critical updates are delivered on time.
Powerful API to Build Effortlessly
Pyth Network provides comprehensive support across all layers of your application, from smart contracts to the front-end interface. Its extensive range of APIs caters to all your market data requirements.
Trusted by Innovators
Pyth data are trusted by some prominent DeFi applications and protocols of the market including Trading View, Synthetix, Venus, Argo, and Alpha_lab.
Conclusion
Obtaining dependable, secure, and precise real-time multichain cryptocurrency data can be a formidable challenge. Pyth Network's Oracle Program generates data that fulfills all the essential requirements for mission-critical web3 applications. You can start building without the need for an immediate subscription.
Author: Sukanta Manna
Editor: Markus Hinrichs
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