Pyth Network, a Cross Chain Oracle on Solana to Launch DeFi Feed

Pyth Network, a Cross Chain Oracle on Solana to Launch DeFi Feed

By Novasky | CryptoEd | 26 Aug 2021


Solana has been in news last few weeks for many reasons. Many existing Solana based projects are coming into the market to solve industry problems. One such industry need was the cross chain DeFi feed which Pyth network is attempting to solve. 

Pyth Network recently tweeted about their work on the DeFi and TradFi feed that will be out on Solana mainnet. 

 

 

Who is Pyth Network?

Pyth is a cross chain oracle that is deployed on the Solana mainnet. Pyth's Price feeds is one of the important application that is likely to be adopted by the DeFi applications and the networks. These feeds across multiple chains would be useful for the various financial and the commercial use cases. This is possible through this Solana based oracle network. 

What this means for Solana Community?

Solana is not just yet another blockchain with faster speed. But there are third party dApps and the projects being made that can solve some of the industry problems. Pyth network happens to solve one such problem. And in near future you may find many other projects popping out that would be working in similar space for solving industry problems. 

If you are a Solana investor, then you should be happy about increase in the amount of the dApps adoption and the DeFi project growth on the ecosystem. 

 

 

How do you rate this article?


10

0

Novasky
Novasky

Crypto Blogger and Open Source Developer.


CryptoEd
CryptoEd

Crypto Education, News, Tutorials and Opinion on Crypto adoption in society.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.