Pyth Network competes for oracle market share with Chainlink
Pyth Network is an oracle project that has attracted over 50 major partners worldwide, providing valuable data sources, integrating multiple protocols, AMMs, Derivatives, and a host of other dApps with data provided reliably with a latency of under 1 second. #PYTH is a direct competitor of #LINK
The oracle provider Pyth Network has surpassed Chainlink in 30-day trading volume despite having a lower total value secured (TVS).
This shift may be due to Pyth Network's pull-based oracle model. This model only provides data on demand rather than updating frequently, unlike Chainlink's push-based model.
Pyth Network's approach is optimized for high-frequency activities, such as trading, where real-time data access is critical.