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Pyth Developer Executive: The Oracle Machine Network is Disrupting the $50 Billion Financial Data Industry
Golden Finance reports that Michael James, the head of institutional business development at Pyth developer Douro Labs, stated that oracle networks like Pyth are disrupting the $50 billion financial data industry, which provides critical price information to exchanges, brokerages, trading firms, and other institutional entities. The executive stated that the data pulling model of Pyth Network differentiates it from traditional pricing Oracle Machines, allowing customers to pay for data on demand, thereby reducing costs for institutions that rely on real-time market data. Pyth will achieve significant growth in 2024. The Pyth Oracle Machine network provides real-time market data and price information for cryptocurrencies, stocks, foreign exchange markets (FOREX), commodities, and interest rates. In December 2024, Pyth announced the launch of real-time oil pricing data on over 80 blockchain networks.