Pyth Network – Oracles of the Future

TL;DR
It's pretty rare to see a project that skips the hype and gets straight to the point nowadays. At a glance, Pyth Network is designing oracles of the future that are accessible to anyone and extremely cost-efficient. Pyth’s full presence in the marketplace has only been visible for a short time due to the recent distribution of the Biggest Airdrop of the Year. However, Pyth has been active and operational for over two years now. In that time frame, the project has integrated with 33% of the amount of protocols that Chainlink has. Firmly placing it as the second-largest Oracle service provider in the space. In this review, we’ll look at where Pyth Network came from and where it's planning to head.

The PYTH Token may have been born into the Solana Ecosystem but Pyth itself is not restricted by any specific blockchain. While it is the largest Oracle provider on Solana, the project is an interoperable protocol that can be launched onto any network.

The reaction of most people who hear about Pyth for the first time is to immediately compare it with Chainlink. Which in all fairness, isn’t a bad thing to do. However, in doing so you’ll find that they’re very different projects both technically and financially.

For example, even though Pyth has a third of the Protocols secured by Chainlink, it’s only managed to capture 10% of the Total Value Secured by Chainlink.

While Pyth may technically have more “advanced” Oracles, Chainlink has an entire ecosystem and partnerships light years ahead of any competition.

The bottom line is that Pyth Network still has a long way