Michael James, the company-coinalgraph, who develops the head-speed high-speed blockchain Oracle network of institutional business development in Doro Labs, told-coinalgraph that Oracle Network like Pyth is disrupting $ 50 billion financial data industry that provides significant value information to exchanges, brokerage, trading firms and other institutional entrants.
In an interview in the consensus 2025, the executive said that the data bridge of the pythine network separates it from traditional pricing ORACles, allowing customers to pay for data on demand, reduces costs for real -time market data -dependent institutions.
According to the executive, the financial data industry is currently given monopoly by about eight major providers who continuously increase prices arbitrarily on customers. James added:
“These data vendors have no competition in traditional finance, and so they have all pricing power in the world. There is no alternative; whether you are a banker or hedge funds and you are doing more or less business – you still have to buy that data for compliance reasons.”
The high cost of financial data prevents innovation and prevents small-medium-sized businesses from participating in the global financial services industry, focusing the region in the hands of some big players and preventing cases of novel use.
Connected: Nazrov of Chanlink says
Pyth experiences significant growth in 2024
Pyth Oracle Network provides real -time market data and price feed for cryptocurrency, equity, foreign currency exchange markets (foreign currency), goods and rates.
In December 2024, Pyth announced the launch of real -time oil pricing data on more than 80 blockchain networks.
Real-time oil price West feeds track data from West Texas Intermediate (WTI) and Brent crude oil, collects data from many sources and cleans the path for energy derivative instruments and energy trading to be on blockchain rail.
During 2024, the Pyth Network extended its total value to secure (TVS), a metric that tracks the amount of capital safe by a 46-guna.
As data From Defilama, Pyth currently commands about 11.3% of the blockchain Oracle Market from about 10.8% of the market share reported in September 2024.
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