 | Pyth Network (PYTH)Pyth Network is a next-generation price oracle solution that aims to make valuable financial market data available on-chain for projects and protocols, as well as for the general public, via blockchain technology. IMPORTANT: By investing in this business you agree to ourDisclaimer. All information including our rating, is provided merely for informational purposes. CryptoTotem does not provide investment advice. |
Overview
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OpenWhat is Pyth Network
Pyth Network is an oracle protocol that connects the owners of market data to applications on multiple blockchains. Pyth's market data is contributed by over 100 first-party publishers, including some of the biggest exchanges and market making firms in the world. Over 350 protocols on 55+ blockchains trust Pyth to secure their applications.
Pyth is a protocol that allows market participants to publish pricing information on-chain for others to use. The protocol is an interaction between three parties:
- Data providers submit pricing information to Pyth's oracle program. Pyth has multiple data providers for every price feed to improve the accuracy and robustness of the system.
- Pyth's on-chain oracle program on Pythnet combines providers' submitted data to produce a single aggregate price and confidence interval.
- Applications read the price information produced by the oracle program. More specifically, Pyth allows users to “pull” prices onto the blockchain when needed. Those prices become publicly available for everyone on that chain.
DetailsToken supply: 10,000,000,000 PYTHLegalBlockchain Platform: SolanaRegistration year: 2021 | Token infoTicker: PYTHType: Utility-token Token standard: SPL Token distribution: Publisher Rewards - 22% Ecosystem Growth - 52% Protocol Development - 10% Community and Launch - 6% Private Sales - 10% |
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