High-speed oracle networks, particularly Pyth, are challenging the $50 billion financial data industry by offering on-demand data at lower costs. Michael James, head of institutional business development at Douro Labs, stated that the current financial data sector is dominated by a few major providers that impose arbitrary price hikes on clients. He emphasized that these monopolistic practices limit competition, hindering innovation and accessibility for smaller businesses and startups in the finance sector. Pyth's oracle network distinguishes itself with real-time data delivery across multiple asset classes, including cryptocurrencies, equities, and commodities, and has experienced substantial growth, most notably a 46-fold increase in total value secured in 2024. As Pyth expands its reach, it aims to democratize access to critical market information, fostering more opportunities in the global financial ecosystem.

Source đź”—