10x potential to watch in the medium term—PYTH#sol

What is an oracle? It is the mechanism for transmitting data from outside the blockchain to within the blockchain.

LINK, the leader in the oracle sector, currently has a market value of US$8.15 billion.

The business model of the oracle sector is relatively mature at present, it can become a closed loop, and it is an industry with cash flow, which is rare in the encryption circle. We know that many platforms can earn hundreds of billions of dollars just by selling transaction data, and in the encryption circle There are a large number of defi projects, and these projects themselves require very accurate data to support and maintain business, so oracles are the underlying facilities of the encryption market. Without oracles, there would be no defi.

Python is the benchmark of Chain Link. When I first came up, I wanted to compete with Chain Link to grab the position of the big brother.

As soon as PYTH went online, it signed contracts with more than 80 data providers, which is very compliant.

At the same time, PYTH has also made innovations, removing the role of data middleman in Chain Link, and because it relies on the Solana chain to build #sol , the $SOL solana chain itself has a very high tps, and PYTH’s data provider can directly The data is packaged and uploaded on the chain instead of requiring a data aggregation off the chain like link, which is relatively more transparent and open.

And although Pyth did not announce its own team, it was discovered through the code of Githup that the major shareholder behind it is a high-frequency trading giant based in Chicago.

If the defi project on the Solana chain becomes more prosperous, TVL lock-up increases and develops steadily, the prospects for PYTH are still good.