$LINK The collaboration between Chainlink, Pyth, and the U.S. Department of Commerce is a significant step for the digital world. For the first time, the U.S. government will publish official economic data such as Gross Domestic Product (GDP) on the blockchain (a secure and public database).

Key Points

What happened? Two technology companies, Chainlink and Pyth, partnered with the U.S. government to put their economic data on the blockchain.

Why is this important? Putting this data on the blockchain makes it more transparent and secure, preventing it from being manipulated.

What can be done with this? Developers can use this information to create new applications. For example, a lending application could automatically adjust its interest rates based on how the economy is performing.

What happened to the tokens? After the announcement, the tokens (digital currencies) of these companies skyrocketed in price. Chainlink's token, LINK, rose by 5%, and Pyth's token, PYTH, nearly 50%. This shows that people believe this collaboration is very valuable.

So what now? The U.S. government wants other agencies to follow this example, which could lead to more public data being published on the blockchain in the future.