Michael James, head of institutional business development at Douro Labs, the creator of Pyth high-speed blockchain oracle network, stated that oracle networks like Pyth are revolutionizing the $50 billion financial data industry. These networks provide crucial price information to exchanges, brokerages, trading firms, and other institutional entities. James highlighted that Pyth Network's data pull model distinguishes it from traditional pricing oracles, enabling customers to pay for data as needed, thereby reducing costs for institutions relying on real-time market data. He criticized the current monopoly in the financial data industry by a few major providers who continuously raise prices, hindering innovation and limiting participation of small to medium-sized businesses. Pyth oracle network offers real-time market data for various sectors including cryptocurrencies, equities, FOREX, commodities, and rates. The network's recent expansion into real-time oil pricing data on multiple blockchain networks demonstrates its growth and impact in the industry. Read more AI-generated news on: https://app.chaingpt.org/news