Michael James, head of institutional business development at Douro Labs, discussed how high-speed oracle networks like Pyth are transforming the $50 billion financial data industry at Consensus 2025. He emphasized that traditional data providers have monopolized the sector, significantly raising prices and stifling innovation. The Pyth network offers on-demand pricing for data, which alleviates costs for institutions needing real-time market data. This shift is crucial for small and medium-sized businesses that struggle to access necessary financial information, thus concentrating power within a few large players. The Pyth oracle recently expanded its offerings across over 80 blockchain networks and has seen growth in its market share, from roughly 10.8% to 11.3% in the blockchain oracle sector. With real-time feeds for cryptocurrencies and commodities, Pyth is enabling new use cases in energy trading and derivatives on blockchain platforms.

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