MASSIVE $PYTH 🤝 SONY PARTNERSHIP! 🤯 Oracles Are Taking The Lead! Why? 👇
Pyth Network has just partnered up with Sony Block Solution (division of Sony Group)! PYTH will offer its unique technology in order to be integrated into the blockchain Soneium (Sony's Blockchain). But why PYTH's technology is so powerful? Pyth Network is an oracle that is specialized in delivering high-fidelity, real-time market data to blockchain applications. It aggregates data from various sources, including financial institutions, trading firms and exchanges. It then broadcasts this data to different blockchain.
An example I often use to break down the complexity of this topic is when you are using an app to buy Bitcoin. Pyth Network sends real-time price updates to the app, so when you hit the buy button, you get the exact current price of Bitcoin. Without PYTH, the app might use outdated prices and you could end up paying more than you should. PYTH makes sure you always get the right price! It helps you to avoid losses while making better your trading experience!
In this case, by integrating PYTH's technology in the Soneium blockchain, developers will have reliable data for building Dapps (DeFi, Web3 and NFTs). In my opinion, this is very important because it ensures that these apps will function accurately and efficiently! Their quality and reliability will be unique!
Do You Know Other Oracles Beside PYTH? 🤔 Let Me Know In Comments!
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