Seven blockchain infrastructure companies have added support for Pyth Network, a Solana blockchain oracle service. Famous platforms like Everstake, P2P, Syndica, Figment, Triton1, Coinbase Cloud, and Blockdaemon are among them.
The Oracle solution from Pyth Network gathers off-chain data required by applications such as those in the decentralised banking industry.
Pyth Network’s announcement today comes as the company works to broaden the infrastructure needs for its Oracle solution. The network is supported by more than 50 publications that cover financial services providers, trading businesses, and cryptocurrency exchanges.
Alameda Research, Jump Trading, Chicago Trading Company, CMS, FTX Exchange, Galaxy Digital, Genesis Global Trading, Wintermute, and others are among the largest Pyth publishers.
These data sources provide reliable information for DeFi apps on Solana, which have a total locked asset value of more than $6.5 billion.
According to a press release from Pyth Data Association, the Swiss organisation in charge of the initiative, these firms will help Pyth’s data suppliers manage their node infrastructure. By staking the native PYTH tokens, the seven infrastructure businesses will allow data publisher clients to operate nodes.