The Pyth Network is a decentralized oracle protocol that provides accurate financial data and real-time updates (such as cryptocurrency prices, stocks, commodities, and exchange rates) in less than 400 milliseconds, through over 100 primary data providers from financial institutions and major trading firms.
How does it work?
It relies on the Pull Model, where data is fetched on demand only, reducing transaction costs and increasing efficiency.
Uses a weighted median algorithm to merge data from various sources based on their reliability, protecting against manipulation and enhancing data credibility.
Key Products
1. Pyth Price Feeds
— More than 350 price feeds (crypto, stocks, commodities, forex...) that update every 400 milliseconds, and come with confidence ranges to assess price accuracy.
2. Benchmarks
— Provides historical price data for purposes such as settlements and financial analysis.
3. Entropy
— A reliable on-chain random number generator, ideal for applications that require fairness such as gaming and lotteries.
4. Express Relay
— Direct data delivery to smart contracts to avoid MEV (mining on value changes) and hidden transactions in the mempool.
Competitive advantages
Exceptional speed and accuracy: updates every 300–400 milliseconds.
Data reliability: The data comes directly from the source (over 120 known financial institutions).
Comprehensive multi-chain coverage: Supports dozens of chains like Solana, Ethereum, BNB, Avalanche, Aptos, Sui, and others.
Significant growth and adoption: Over 78 chains, 512 financial assets, 420+ applications, astonishing monthly transaction volume, and billions in value secured.
Recent updates
Integration with IOTA: Pyth has reached its testing network and will become part of the IOTA mainnet which will include extensive real-time market data.
Oil market data (WTI and Brent) is now available in real-time for over 80 chains, opening the door for energy-related DeFi applications.
Revolut Collaboration: Revolut has fed its data to Pyth feeds, paving the way for DeFi financing via real banking data.
In conclusion
The Pyth Network is a leading oracle in the decentralized finance (DeFi) space — combining speed, accuracy, transparency, and multi-chain capability.
Whether you are a developer, researcher, or just a crypto enthusiast, Pyth provides you with professional data from top institutions directly on the blockchain.
