Source: Cointelegraph
Original: “Web3 executives say high-speed oracles are disrupting the $50 billion financial data industry”
Michael James, head of institutional business development at Douro Labs, which developed the Pyth high-speed blockchain oracle network, told Cointelegraph that oracle networks like Pyth are disrupting the $50 billion financial data industry, which provides critical pricing information to exchanges, brokerages, trading firms, and other institutional entities.
In an interview at the 2025 Consensus conference, the executive stated that Pyth's data pulling model distinguishes it from traditional pricing oracles, allowing clients to pay for data on demand, thereby reducing costs for institutions that rely on real-time market data.
According to Michael, the financial data industry is currently monopolized by about eight major suppliers, who continuously raise prices for clients at will. He added:
The high cost of financial data stifles innovation, hinders small and medium-sized enterprises from participating in the global financial services industry, further concentrating the industry in the hands of a few large players and preventing the emergence of new use cases.
The Pyth oracle network provides real-time market data and price feeds for cryptocurrencies, stocks, foreign exchange (FOREX), commodities, and interest rates.
In December 2024, Pyth announced the launch of real-time oil price data across more than 80 blockchain networks.
These real-time oil price feeds track data for West Texas Intermediate (WTI) and Brent crude oil, aggregating data from multiple sources, paving the way for energy derivatives tools and energy trading on the blockchain.
Throughout 2024, the total value locked (TVL) in the Pyth network—a metric tracking the capital secured by the oracle network—grew 46 times.
According to DeFiLlama, Pyth currently holds about 11.3% of the blockchain oracle market, up from approximately 10.8% reported in September 2024.
Related: Decentralized finance (DeFi) must return to its P2P roots to achieve mass adoption.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
