Talos Joins Pyth Network
Posted by Colin Lambert. Last updated: December 13, 2021
The oracle platform Pyth Network, continues to grow its base of data providers, with news that digital assets infrastructure provider Talos is joining to provide real time cryptocurrency market data.
Data oracles like the Pyth Network serve as the connection between blockchains and the off-chain data sources necessary for decentralised financial (DeFi) applications. Further improvements in DeFi require high-fidelity, time-sensitive, real-world data, which has historically been inaccessible on-chain. The Pyth Network solves that problem by bringing real-world data to the Solana blockchain in a tamper-resistant environment.
Announced in August 2021, the Pyth Network now has nearly 40 data providers who are now beginning to contribute real-time pricing across crypto, equities and FX — and many decentralised applications are starting to use the oracle on Solana.
“Institutional adoption of digital assets is well underway at this point, but what we’re also starting to see is these same institutions adopt DeFi,” says Anton Katz, co-founder and CEO of Talos. “We are excited to be a part of this project that helps further advance critical DeFi infrastructure and has the potential to unlock greater efficiency and transparency in our financial system. We look forward to working alongside leading players across both the crypto and TradFi ecosystems — firms like Jump Trading, DRW, FTX, 0x, Galaxy, Jane Street, IEX, Two Sigma and Virtu — on this exciting project.”