XION Ecosystem Integration with Pyth

Published on: 15.05.2024
XION Ecosystem Integration with Pyth

The integration of the XION ecosystem with Pyth represents a significant advancement in decentralized data accessibility and reliability.

The seamless integration of the XION ecosystem with Pyth signifies a remarkable leap forward in enhancing decentralized data accessibility and reliability, providing developers with invaluable tools to pioneer innovative decentralized consumer applications.

 

Seamless Data Access with Pyth’s Pull Oracle

By deploying the Pyth pull oracle on XION’s platform, developers can effortlessly request or “pull” price updates from the Pythnet appchain as needed. This innovative approach streamlines the process of accessing market data, enabling users within the XION ecosystem to consistently obtain high-frequency updates and the latest price information. Pyth’s gas-efficient pull architecture ensures a seamless user experience, eliminating barriers to accessing real-time market data.

 

Simplifying Blockchain Interactions with XION

XION’s layer one blockchain simplifies user interactions by abstracting the complexities of blockchain technology across various dimensions. This simplification, encompassing accounts, signatures, gas fees, pricing, devices, and interoperability, streamlines the development process. It facilitates the creation of innovative Web3 projects aimed at introducing decentralized technologies to mainstream audiences on a global scale. Developers can leverage XION’s user-friendly platform to build intuitive applications that resonate with a wider audience, ensuring accessibility and usability are at the forefront of their creations.

 

Unlocking New Possibilities for Application Development

The integration with Pyth offers developers unparalleled opportunities to leverage its robust features, including permissionless access to off-chain data. By ensuring their applications always have access to up-to-date information, developers can create more responsive and reliable applications capable of reacting to market changes in real-time. Additionally, Pyth’s Entropy product provides a secure source of randomness on-chain, enabling the development of applications with verifiably unbiased outcomes. This fusion of simplicity, reliability, and functionality will drive increased adoption of decentralized applications, fostering innovation and growth within the cryptocurrency ecosystem.

 

About Burnt

 

Burnt plays a crucial role as a key contributor to XION, the pioneering layer one blockchain designed specifically for widespread consumer adoption. Through its protocol-level advancements concerning abstracted accounts, signatures, fees, and interoperability, XION facilitates secure, intuitive, and effortless user interactions. Burnt’s vision revolves around democratizing access to true ownership, ensuring that everyone, irrespective of technical expertise, can enjoy equal opportunities. The project has garnered substantial funding exceeding $32M from esteemed investors such as Animoca, Circle, Multicoin, Arrington Capital, Spartan, and others.

 

About PYTH

 

The Pyth Network is a pioneering financial data oracle network delivering low-latency price data securely to blockchains. By incentivizing major exchanges and trading firms to contribute their data, Pyth aggregates price data on-chain, enabling smart contracts to utilize it effectively. Decentralized applications can seamlessly request Pyth price updates on-chain as needed. Within less than a year since the launch of its cross-chain pull oracle, Pyth has amassed over $2.0B in total value and supports over 500 real-time data feeds across various asset classes, facilitating more than $300B in total trading volume across numerous blockchain ecosystems and applications.

 

SOURCE

https://xion.burnt.com/blog/pyth-integrates-with-xion

 

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