Key takeaways
Pyth Price Feeds are now available on Layer N, an innovative Layer 2 network.
Layer N developers can access over 500 real-time price feeds for cryptocurrencies and traditional assets.
Integration with Pyth’s oracle is seamless, enabling high-frequency price updates with minimal code.
The Pyth Network, known for delivering low-latency, high-frequency price data for various assets securely to blockchains, has announced the launch of Pyth Price Feeds on Layer N. The Pyth Network aggregates proprietary data from some of the world’s largest exchanges, market makers, and trading firms to provide over 500 real-time data feeds, including cryptocurrencies, equities, ETFs, FX pairs, and commodities. This integration is set to enhance the capabilities of Layer N significantly.
What is Layer N?
Layer N is an innovative Layer 2 network designed to maximize on-chain performance and user experience. This network features custom virtual machines (VMs) powered by a shared communication and liquidity layer, enabling seamless communication, liquidity sharing, and composability between applications and cross-virtual machines (XVMs) without withdrawal periods or bridging risks. Developers can create applications on Layer N by building an XVM or utilizing the public N-EVM instance. The benefits are ultra-low execution latencies, higher throughput, and negligible transaction fees.
The launch of Pyth Price Feeds on Layer N is significant because it provides protocol developers with access to real-time price data, that is crucial for high-throughput DeFi applications. This integration allows Layer N users to tap into Pyth’s pull oracle design. It offers continuous access to low-latency, high-frequency price updates on-chain. This seamless integration means developers can incorporate real-time price data with just a few lines of code.
The deployment of Pyth Price Feeds on Layer N is a vital step in establishing a robust DeFi ecosystem within Layer N’s environment. Real-time access to price feeds reflecting real-world markets is necessary for developing next-generation DeFi applications. The alignment of Pyth Network's capabilities with Layer N’s mission increases the potential for innovative financial solutions on the blockchain.
Wrapping up
the integration of Pyth Price Feeds on Layer N is a game-changer as it leverages Pyth's extensive data network and Layer N's advanced infrastructure. It provides a seamless, high-performance environment for DeFi applications and gives room for sophisticated and reliable blockchain-based financial products.