Pyth Network, a decentralized data oracle, and The Open Network (TON), a decentralized blockchain platform, have partnered to provide developers on TON with high-quality real-time data.
Pyth’s pull oracle data flows are the primary focus of the collaboration, as per information provided to Cointelegraph. This integration will allow TON developers to “truly distinguish their applications.”
Pythagoras’s force The objective of Oracle technology is to provide real-time “institutional-quality price data” necessary for developing decentralized applications (DApps) on TON.
Michael Cahill, CEO of Douro Labs and a core contributor to Pyth, disclosed in a Q&A with Cointelegraph that the price feeds are “secured by multiple layers of protection.”
“These measures are in place to give TON developers and all other supported ecosystems the confidence to build cutting-edge DeFi that will serve potentially millions of users.”
About the Partnership
The partnership will likely influence numerous components of the TON ecosystem that pertain to decentralized finance (DeFi), such as the capacity of initiatives to provide enhanced financial services.
The shared information indicates that Pyth’s “high-fidelity, real-time prices” will facilitate DeFi initiatives on TON with “lightning-fast transactions” that are essential for “serving a massive global audience.”
Pyth’s low-latency data capabilities will bolster TON’s endeavors to enroll users into the onchain space through the partnership.
In the Q&A, Cahill asserted that “TON builders can be confident that Pyth can support the services they wish to construct, including those they may already offer on other chains.”
TON Gains access to analytics through IntoTheBlock
IntoTheBlock (ITB), a provider of onchain analytics and DeFi services, incorporated TON into its analytics infrastructure on August 9.
This advancement allows the TON community to gain a more comprehensive understanding of the TON blockchain’s onchain information and trends by gaining free access to ITB’s sophisticated analytical data.
The integration also seeks to enhance user engagement on the blockchain platform and network transparency by providing a more comprehensive understanding of the TON ecosystem.
Pyth to Reform DeFi Lending
Morpho and Gauntlet, DeFi-centric development teams, partnered with Pyth on June 21 to enhance the lending and borrowing experiences on the Ethereum and Base blockchains.
The partnership sought to enhance the security and efficiency of lending protocols by leveraging Pyth’s low-latency price data.
