Pyth Price Feeds Debuts on Filecoin VM

10 months ago 4

ARTICLE AD BOX

Pyth Price Feeds, a runtime environment for smart contracts on the Filecoin network, has launched today on Filecoin VM. Data that is vital to mankind is intended to be stored on Filecoin, a decentralized storage network.

The goal of this deployment is to provide worldwide Web2 and Web3 participants with access to data. Developers of smart contracts may now access over 400 real-time market data feeds on the Filecoin peer-to-peer network permissionlessly.

Jonathan Victor, Co-Founder at Ansa Research stated:

“This collaboration between the Pyth Network and Filecoin Ecosystem underscores a joint commitment to enabling robust markets in the Filecoin economy. The launch of Pyth Price Feeds is a critical pillar to enabling the DeFi ecosystem on the FVM to accelerate in 2024.”

Filecoin

Filecoin is a peer-to-peer file storage network that uses encryption to guarantee long-term file storage reliability and built-in financial incentives. Users of Filecoin pay storage providers to store their data. Computers serving as storage providers are in charge of keeping data and demonstrating over time that they have done so successfully.

Anyone may sign up for Filecoin if they wish to store their files or be compensated for storing the files of other users. No one corporation has complete control over the amount of storage that is available or how much it costs. Rather, Filecoin makes open marketplaces possible for anybody to engage in while storing and retrieving data. Please visit Filecoin’s website to find out more information.

Pyth

The Pyth Network is a first-party data oracle network that focuses on safely and transparently publishing low-latency financial information to blockchains.

The world’s biggest institutional market players, including exchanges, market makers, and trading organizations, are urged to provide their proprietary data to the network via the Pyth protocol, which helps to achieve this goal. For usage in smart contract applications later on, Pyth collects their data on-chain. Smart contracts may retrieve Pyth price updates on demand.

The network secured over $2.0 billion in value in less than a year. At the moment, Pyth offers more than 400 real-time price feeds for commodities, stocks, FX, cryptocurrencies, and ETFs. Over 50 blockchains and over $100 billion in trade volume have been made possible by the network.

To learn more about Pyth, check out the documentation or website.

What Comes Next?

Developers are encouraged to start using Pyth Data by looking through the resources below. Please don’t hesitate to ask questions and reach out to us.

On the website, you may browse the complete Pyth Price Feeds inventory and find out which price feeds are currently being developed. Please contact us in the Discord channel if you would like to request a new data feed.