Hedera developers can now access Pyth Price Feeds

Pyth Price Feeds are now available to all Hedera developers, whereas DeFi developers have permissionless access to more than 400 financial data feeds. These can be implemented in smart contract applications, thereby empowering community developers to construct cutting-edge financial solutions augmented with DLT.

According to Grace Pfluger, Director of Business Development at the HBAR Foundation, public oracle pricing feeds are critical for progress because lending is regarded as a vital economic activity. They are excited to become affiliated with Pyth and privy to cutting-edge technology.

Pyth is a financial oracle network that provides transparent, low-latency, real-time data to multiple blockchains. The utilization of Pyth’s innovative technology framework guarantees that Hedera network DeFi applications are constructed upon dependable and robust foundations.

Pyth is an exclusive financial data oracle that generates uncertainty across multiple markets during a confidence period. The real-world data affixed can alert lending and derivative protocols about unforeseen market conditions to ensure the security of users and funds.

Powered by Pyth, applications are safeguarded by a confidence factor derived from Price Feed’s unique oracle infrastructure, which provides the high-resolution, low-latency data necessary for validating trades and settlements. 

By way of “walled gardens” maintained by centralized institutions, the Pyth Network provides a specialized oracle solution for latency-sensitive financial data. Pyth’s mission is to discover a novel, low-cost method for securely aggregating and bringing this unique data onto the blockchain.

The HBAR Foundation provides financial support for developing Web3 communities hosted on the Hedera network. This is accomplished through support and funding for the developers who establish these communities. In addition to six funds dedicated to the crypto economy, consumer engagement, and sustainability, the Foundation also supports fintech, privacy, and female founders. Each supports the communities that inhabit these spaces.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

Related Articles

Back to top button