Pyth network positions its oracle solutions on IOTA EVM

Pyth network has positioned its oracle solutions on IOTA EVM to enhance oracle’s ability to introduce real-time data on-chain, from external sources and prepare them to be utilized within smart contracts. 

Pyth network is oracle based, intending to offer a smooth and convenient service regarding DEXs and lending businesses and off-shoot bases. It takes credit for having under its wing over three hundred applications, along with fifty blockchains. In the case of price updates, they are released constantly to ascertain proper data accessibility without any hiccups. 

This collaboration bolsters the IOTA ecosystem by leveraging Pyth’s real-time data capabilities, ensuring robust data integrity and security. It also allows seamless integration with existing DeFi protocols, fostering innovation and efficiency in decentralized financial operations.

Through the adoption of Pyth network’s oracle solutions, the IOTA ecosystem is provided the option of receiving connectivity with a strong framework that assists in improving data correctness and high-end safety standards, mandatory for creating a healthy DeFi ecosystem. This link-up will allow builders to access the toolkits required for developing inventive financial items and solutions, starting from exclusive trade algorithms and reaching toward all-inclusive lending platforms.  

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It is necessary to have calculated and dependable data feeds, with regards to any DeFi business. Pyth manages to address this lacuna effectively and adequately.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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