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pyth
pyth
Pyth Network is a decentralized oracle network that delivers real-time market data to blockchains. Since blockchains operate in isolated environments, they lack direct access to external information. This limitation makes it difficult for dApps to interact with real-time market data, which is crucial for broader adoption. Oracles help bridge this gap by facilitating price data transfer between blockchains and external sources.
This coin is available on Newton.
The concept of decentralized oracles has been around for years, with early projects like Augur and Oraclize pioneering the space. Oracles act as third-party services that supply smart contracts with financial market data, making them essential for many DeFi applications. Among them, Chainlink became the most well-known, offering price feeds for DeFi platforms. Its model relies on node operators to gather and verify cryptocurrency prices and other data.
Pyth Network, launched in 2021, was initially developed for the Solana ecosystem but has since expanded to support multiple blockchains. Like Chainlink, it provides real-time price feeds for DeFi applications, but it differs in how price data is sourced. Instead of relying on node operators, Pyth gathers high-frequency financial data directly from trading firms, market makers, and exchanges. This approach allows it to deliver institutional-grade market price data to smart contracts.
By sourcing proprietary price data from professional trading firms, exchanges, and other financial entities, Pyth offers high-fidelity market data to blockchains. Its network architecture enhances data accuracy while reducing reliance on intermediaries. This method improves interoperability and helps minimize potential points of failure. As a result, DeFi protocols can access live price updates without depending on multiple third parties.
Pyth Network also features a governance token, PYTH, which gives holders the ability to participate in decision-making. Pyth tokens allow users to vote on network upgrades, fee structures, and other Pyth Network’s architecture developments. This decentralized governance model enables the Pyth Data Association and its community to influence the project’s future direction. Through its unique first-party data providers and governance structure, Pyth continues to expand its role in the crypto space.
Pyth Network operates as a blockchain-based oracle designed to deliver real-time asset pricing data to on-chain decentralized finance protocols. It provides price information for both cryptocurrencies like BTC and ETH and traditional assets such as equities and commodities. The network offers high-frequency updates, meaning the latest price reflects real market conditions, and low-latency data delivery, allowing smart contracts and traders to make informed decisions quickly. This approach supports a wide range of applications that rely on accurate pricing.
The network comprises two main participants: consumers and publishers. Consumers are smart contract users who request and pay for pricing updates, while publishers include financial institutions, trading firms, and exchanges that supply data. By sourcing information directly from these first-party providers instead of third-party aggregators, the network offers over 380 price feeds with faster and more precise updates. However, some critics argue that this model introduces an element of centralization within the decentralized finance ecosystem.
Pyth Network’s pricing data is managed through its custom blockchain, Pythnet, a fork of Solana. In this system, publishers run validators on a Proof of Authority (PoA) network, where they aggregate pricing data and determine the reference price for each digital asset. These prices are then broadcast across blockchains via cross-chain messaging protocols, making them accessible to over 250 applications to secure a significant portion of decentralized exchange (DEX) trading volumes. The network operates in a way that allows seamless integration with Pyth price feeds on multiple blockchains.
Unlike other oracles that continuously push updates, Pyth uses a pull-based model, meaning data is transmitted only when requested by users. This makes the network more gas-efficient and cost-effective for smart contracts and other blockchain applications. Pyth Network provides financial data for multiple ecosystems, offering access to foreign exchange markets, FX Pairs, ETFs, and other financial instruments. The network leverages its unique data aggregation system to optimize performance while maintaining real-time accuracy.
Despite its advantages, Pyth Network is valued differently by the decentralized finance community due to concerns about its structure. By relying on select market participants as publishers, some argue that the network has a degree of centralization compared to other oracles with broader data sources. Others believe this model strengthens the reliability of the data provided. As the token supply of Pyth Network expands, its approach to governance and data distribution will remain a key topic in the blockchain industry.
Pyth Network is a decentralized oracle that delivers real-time market data for cryptocurrencies and other assets. Here’s how it works:
Pyth Network enhances market data accuracy by sourcing real-time price information from professional trading firms. Here’s what makes it reliable:
Pyth Network’s market data is available on multiple blockchains, enabling decentralized applications to access live pricing information. Supported blockchains include:
Pyth Network provides accurate market data that enhances the functionality of cryptocurrency trading platforms. Here’s how:
Pyth Network (PYTH) delivers real-time financial market data to smart contract applications across more than 40+ blockchains. It provides price feeds for assets such as cryptocurrencies, stocks, and commodities, helping decentralized applications access accurate market information. By sourcing data directly from exchanges, market makers, and trading firms, the network minimizes delays and improves reliability within DeFi and the current market.
Pyth Network’s pricing model includes confidence intervals, which represent the estimated range of accuracy around each asset’s reference price. This method offers traders and developers a clearer view of an asset’s actual value, reducing reliance on outdated or inaccurate data. Pyth Network’s unique structure enhances decision-making in decentralized finance by offering near real-time pricing updates, as seen in the Pyth Network price chart.
Three main participants contribute to Pyth’s ecosystem: feed users, publishers, and delegators. Feed users include DeFi platforms, web3 applications, and smart contract developers who integrate Pyth’s price feeds and optionally pay data fees. Publishers collect and transmit market data, earning a share of data fees based on data accuracy and speed. Delegators stake PYTH tokens on a specific product and publisher, receiving rewards when the data provided is precise and timely while risking their stake if the oracle is inaccurate. Additionally, any participant may take on multiple roles within the network.
Pyth Network offers its services across multiple blockchains using bridges, making its oracles accessible beyond native environments. Off-chain networks can access Pyth’s data services for a small fee, contributing to the network’s expansion. A significant portion of Oracle-powered decentralized applications already rely on Pyth for accurate financial data, solidifying its role as the largest and fastest-growing first-party oracle network.
On the Solana blockchain, Pyth users benefit from zero fees, encouraging greater adoption within that ecosystem. This cost-free access makes Pyth an attractive choice for projects seeking efficient market data integration. With partnerships in the network including Cboe Global Markets and Jane Street, and a presence in Pyth Network markets, Pyth continues to shape the future of blockchain-based financial services.
Pyth Network was developed through an incubator program run by Jump Crypto, a division of Jump Crypto Group, a well-established trading firm based in Chicago. This connection to traditional finance helped the project build relationships for obtaining real-world data. By leveraging these partnerships, Pyth positioned itself as a key player in blockchain-based market data solutions.
In 2023, the team behind Pyth established Douro Labs to oversee the network's development. Headquartered in Porto, Portugal, the company is led by Michael Cahill as CEO, Ciarán Cronin as COO, and Jayant Krishnamurthy as CTO. All three have previous experience at Jump Crypto and bring expertise in finance and software engineering. Their leadership has been instrumental in guiding the project's growth.
Pyth has received support from major firms in both traditional finance and the cryptocurrency sector. Participants include Jump Trading, Virtu Financial, and Multicoin Capital, among others. One of its early partnerships was with Bitstamp, which joined as a data provider in 2021. Initially launched on the Solana blockchain in April of that year, Pyth expanded its network to include a growing number of data contributors.
By early 2024, Pyth had become a major force in the blockchain oracle sector, at one point accounting for up to 60% of transactions on Solana. The network secured a substantial total value of assets across cryptocurrencies, equities, commodities, foreign exchange, and fixed income markets. As a result, it emerged as a strong competitor to established oracle providers like Chainlink and Chronicle. Pyth’s rapid adoption highlighted the increasing demand for accurate, real-time market data in decentralized ecosystems.
From late 2023 into 2024, Pyth focused on expanding its cross-chain capabilities beyond Solana. The network integrated with multiple blockchains, including Arbitrum, Avalanche, and Hedera. This broader reach allowed it to support a wider range of decentralized applications while maintaining its role as a provider of on-chain market data without issuing recommendations to buy or sell assets.
Pyth Network stands out by offering low-latency, institutional-grade price feeds directly on-chain. Key differences include:
PYTH stands out from traditional cryptocurrencies by serving a specific role in the Pyth Network’s decentralized market data ecosystem. Here’s what sets it apart:
The Pyth Network price chart provides real-time crypto prices, helping traders make informed decisions. Here’s how it can assist in trading:
PYTH tokens can be stored securely on crypto platforms like Newton or in a digital wallet. Newton provides live price charts to help you track the current price of Pyth Network market value, allowing you to monitor trends and align with your investment strategies.
Some platforms provide the option to stake PYTH tokens for participation in governance or network activities. Staking conditions vary by platform, so reviewing terms, privacy policies, and requirements beforehand is recommended.
Certain merchants support PYTH as a payment method, making it possible to use the token for goods and services. Peer-to-peer transactions offer global accessibility, minimal fees, and decentralized payment options.
Transferring PYTH to other wallet addresses or decentralized exchanges is a quick process. The blockchain network facilitates low transaction fees and fast confirmations, making it a convenient option for transfers and swaps.
PYTH tokens can be contributed to charitable organizations that accept cryptocurrency donations. Blockchain-based transactions offer transparency and traceability, allowing direct contributions without intermediaries.
Exchanging PYTH for other cryptocurrencies like Bitcoin or Ethereum is available on platforms that support swapping. This feature allows for efficient trades while providing access to the latest PYTH price data for portfolio management.
*Newton does not currently support staking, governance, interest-earning, or other utility functions, where applicable, for this asset.
Buying PYTH through peer-to-peer transactions or unregulated exchanges carries certain risks, including potential fraud and lack of oversight. These trades may not offer the same security features as regulated platforms, which could leave funds more vulnerable.
Using a regulated cryptocurrency platform like Newton provides an alternative for trading PYTH in Canada. Newton supports PYTH along with 70+ other digital assets, offering market data and a structured trading environment. Choosing a regulated platform can be a way to manage some of the challenges associated with crypto trading.
Newton offers Canadian traders competitive market prices for PYTH, making it possible to buy at favourable rates. With low slippage and efficient market execution, trades can be completed quickly while managing costs.
Security is a key factor in crypto trading. Newton uses multi-factor authentication (MFA), anti-phishing measures, and device monitoring to help protect PYTH holdings.
Newton makes it affordable to buy and sell PYTH, with a 1.50% - 1.60% fee. For more information about fees, see our Prices page. Newton covers up to $5 of network fees on your first daily withdrawal. For additional withdrawals, or if network fees exceed $5, the estimated network fee is confirmed prior to withdrawal.
Whether on a desktop, smartphone, or tablet, Newton’s platform offers a smooth trading experience across devices, allowing for convenient access to PYTH trading anytime.
Newton’s platform is designed for traders of all levels. The intuitive interface provides access to real-time PYTH prices, market trends, and seamless trade execution.
Newton provides a Canadian-based crypto trading experience, offering fiat-crypto pairings for PYTH and customer support under Canadian financial regulations.
The first step in getting started with PYTH on Newton is setting up an account. The sign-up process is straightforward and secure, providing access to PYTH trading and other digital assets once completed.
After creating an account, you can deposit Canadian dollars (CAD) using funding options like Interac e-Transfer or wire transfer. These methods offer a convenient way to add funds to your account.
Once your account is funded, you can purchase PYTH directly through Newton’s trading interface. Newton provides real-time price tracking and analytical tools to support trading decisions.
You can find PYTH in the various list of available cryptocurrencies. Checking its latest price trends may help in deciding the right time to buy.
Enter the amount of PYTH you want to purchase or its CAD equivalent. Real-time price updates are available, allowing you to review market conditions before proceeding.
Confirm your order details and complete the transaction. Once the purchase is finalized, the PYTH tokens will be added to your Newton account, ready for trading or other blockchain-based activities.
A personal wallet provides full custody over your PYTH tokens, but it also requires careful management of private keys. Losing access to these keys can result in the loss of funds. While a personal wallet offers privacy, adopting strong security practices is important to protect your assets.
PYTH can be stored in your Newton account, which includes security features such as multi-factor authentication, login history monitoring, and an anti-phishing code. Users can also manage trusted devices and add contacts to enhance account security when handling PYTH tokens.
Your security is important. Newton is committed to being a leader in compliance, security, and technical protocols.
For additional information and to review the risks associated with Pyth Network, please see our Asset Statement.
