Michael James, the pinnacle of institutional enterprise growth at Douro Labs — the corporate that developed the Pyth high-speed blockchain oracle community — advised Cointelegraph that oracle networks like Pyth are disrupting the $50 billion monetary information business that gives vital value data to exchanges, brokerages, buying and selling corporations, and different institutional entities.
In an interview at Consensus 2025, the chief stated that Pyth Network’s data pull model units it other than conventional pricing oracles, permitting clients to pay for information on demand, lowering prices for establishments reliant on real-time market information.
In accordance with the chief, the monetary information business is at present monopolized by round eight main suppliers that frequently increase costs on shoppers arbitrarily. James added:
“These information distributors don’t have any competitors in conventional finance, and they also have all of the pricing energy on the earth. There isn’t a substitutability; whether or not you’re a banker or hedge fund and you might be buying and selling kind of — you continue to have to purchase that information for compliance causes.”
The excessive prices of monetary information stifle innovation and prohibit small to medium-sized companies from collaborating within the international monetary providers business, additional concentrating the sector within the arms of some massive gamers and stopping novel use circumstances from rising.
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Pyth experiences vital development in 2024
The Pyth oracle community provides real-time market data and value feeds for cryptocurrencies, equities, overseas foreign money change markets (FOREX), commodities, and charges.
In December 2024, Pyth introduced the launch of real-time oil pricing data on over 80 blockchain networks.
The true-time oil value feeds observe information from West Texas Intermediate (WTI) and Brent Crude Oil, aggregating the info from a number of sources and clearing the trail for power derivatives devices and power buying and selling to happen on blockchain rails.
All through 2024, Pyth network increased its total value secured (TVS), a metric that tracks the quantity of capital secured by an oracle community, 46-fold.
In accordance with data from DeFiLlama, Pyth at present instructions roughly 11.3% of the blockchain oracle market, up from the roughly 10.8% in market share reported in September 2024.
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