Injective Integrate Pyth On Mainnet
The proposal to integrate Pyth Network as its first Inter Blockchain Communication (IBC) chain has been approved on the Injective blockchain. This integration allows for the incorporation of institutional data, including real-world assets (RWA), into the Injective ecosystem. The Pyth integration enables decentralized applications (dApps) on Injective to expand their reach.
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Pyth is a highly accurate data oracle that provides access to institutional data with unprecedented speed. The Pyth network introduces an innovative On-Demand Pull Model oracle, where users are authorized to submit available prices to the chain when needed, allowing everyone in the blockchain environment access to this data point. Pyth provides real-time market data for more than 200 markets, including cryptocurrencies, stocks, forex, and commodities.
This information is crucial for creating quality investment strategies and securing profits for users. With the integration of Pyth with the Injective testnet, a new path is now open for developers to create decentralized applications that have access to this critical data. There is nothing to prevent the integration of Pyth with the Injective mainnet, which would bring many new possibilities for dApps and extend the reach of Pyth data to the wider Cosmos ecosystem. This is an invaluable source of information for users who want to take advantage of DeFi and decentralized markets.
Injective has become a popular blockchain specializing in finance and investment. Utilizing Pyth, users can access critical data for creating quality financial strategies and decisions. This could lead to further growth and development of the Injective ecosystem, making it even more efficient and user-friendly. This integration brings many opportunities for DeFi users and could be a step forward for the entire decentralized finance market.
The integration of new systems has also brought not only new users but also investor interest to the Injective blockchain. As a result, the price of INJ has recently increased and continues to rise.
Python and its integration with Injective ecosystem seem like a good idea to expand the services of this blockchain. Personally, I am happy about this oracle, which will help bring more data and more trading opportunities to the Injective blockchain. In the world of crypto, integrating new oracles is nothing unusual, but for the Injective users it is a welcomed news.