Source: Cointelegraph
Original: (Web3 executives say high-speed oracles are disrupting the $50 billion financial data industry)


Michael James, head of institutional business development at Douro Labs—which developed the Pyth high-speed blockchain oracle network—told Cointelegraph that oracle networks like Pyth are disrupting the $50 billion financial data industry, which provides critical pricing information to exchanges, brokerages, trading firms, and other institutional entities.


In an interview at the 2025 Consensus Conference, the executive stated that Pyth's data retrieval model distinguishes it from traditional pricing oracles, allowing clients to pay for data costs on demand, reducing costs for institutions reliant on real-time market data.


According to Michael, the financial data industry is currently monopolized by about eight major suppliers, who continuously raise prices for their customers at will. He added:


The high cost of financial data stifles innovation, hinders small and medium-sized enterprises from participating in the global financial services industry, further concentrating the industry in the hands of a few large players and preventing the emergence of new use cases.


The Pyth oracle network provides real-time market data and price feeds for cryptocurrencies, stocks, foreign exchange markets (FOREX), commodities, and interest rates.


In December 2024, Pyth announced the launch of real-time oil price data on over 80 blockchain networks.


These real-time oil price feeds track data on West Texas Intermediate (WTI) and Brent crude oil, aggregating data from multiple sources, paving the way for energy derivatives tools and energy trading on blockchain.


Throughout 2024, the total value locked (TVL) of the Pyth network—a metric tracking the capital secured by the oracle network—grew by 46 times.


According to DeFiLlama, Pyth currently holds about 11.3% of the blockchain oracle market, up from approximately 10.8% reported in September 2024.


Related: Decentralized finance (DeFi) must return to its P2P origins to achieve widespread adoption.