Cboe is the first major global exchange operator to join the Pyth Network.
Plans to contribute real-time, derived market data to serve the global DeFi community, starting with 10 symbols from one of its four U.S. equities markets
Cboe Global Markets, Inc., a provider of global market infrastructure and tradable products, announced it has joined the Pyth network, a decentralized financial market data distribution platform for aggregated data.
Cboe plans to begin publishing limited derived equities market data for certain symbols from one of its four U.S. equities exchanges to the Pyth network in fourth-quarter 2022, providing real-time, institutional-grade pricing information to help further grow the network.
The Pyth network is a next-generation price oracle solution that aims to make valuable financial market data available on-chain to projects and protocols, as well as to the general public via blockchain technology.
The network aggregates first-party price data from a broad group of over 70 trusted data providers and publishes it for consumption by smart contracts and other on- or off-chain applications.
Cboe's support of the Pyth network reflects its broader commitment to help grow and mature the digital asset market by bringing its global infrastructure, market expertise and data capabilities to the space.
The Pyth network, which includes more than 70 prominent financial market participants as data publishers for various asset classes, delivers premium, real-world data on-chain on a sub-second timescale. The network is built on Solana, a blockchain proven to handle quick and efficient dissemination of fast-moving data, and other major blockchains designed to distribute real-time, high performance and verifiable data.
Pyth is a first-party financial oracle network designed to publish continuous real-world data on-chain in a tamper-resistant, decentralized, and self-sustainable environment.
DeFi and More mature blockchain infrastructure
DeFi may take one of important role in near future that already many institutions prepare to get into this area.
In the early stage, the succesful DeFi model may be the form that combine decentralized protocol with highly dense support from centralized institutions. Many institutions could take its profitable role in this business structure.
And blickchain itslef will be broadena and become mature having proven itself with many trial and errors. Through this process, each process become more specialized and has deeper area that make specialists on all sub areas.
Reference: PRNewswire
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