Pyth Entropy on Base

Published on: 28.05.2024

Pyth Entropy on Base, this deployment empowers developers on Base to tap into a reliable and secure source of randomness to power financial and creative enterprises such as prediction markets, NFTs, and Web3 gaming.

Pyth Entropy enables smart contract developers to access a reliable and secure source of randomness on-chain. Trustless random number generation (RNG) is crucial for Web3 applications that require unpredictable outcomes, including gaming, NFTs, lotteries, prediction markets, and more. As Pyth Entropy on Base.

Key Use Cases
  • Gaming and GameFi: Developers can create unpredictable game mechanics or obstacles.
  • NFTs: Ensures unique minting and random selection processes.
  • Prediction Markets and DeFi: Facilitates fair and random outcomes for prediction markets, like on-chain roulette or virtual horse racing.
Advantages of Pyth Entropy
  • Security: Built on a robust commit-reveal protocol, minimizing trust between participants and ensuring truly random results.
  • Speed: Utilizes a pull design where parties communicate directly on the blockchain, improving speed and simplicity.
  • Ease of Use: Integration requires minimal code and is permissionless.

 

About Pyth Network

Pyth Network is a unique oracle network that delivers secure, low-latency price data for various assets directly onto blockchains. It incentivizes leading market participants like exchanges and trading firms to contribute their valuable data to the network.

Website | X

 

SOURCE: PYTH NETWORK BLOG
REQUEST AN ARTICLE
Market Stats:
BTC Dominance: 64.03%(+0.06%/24h)
ETH Dominance: 9.75%(+0.15%/24h)
Defi Market Cap: $116.88B(+68.22%/24h)
Total Market Cap: $3599.38B(+4.08%/24h)
Total Trading Volume 24h: $171.87B(+32.87%/24h)
ETH Market Cap: $349.42B
Defi to ETH Ratio: 33.45%
Defi Dominance: 3.19%
Altcoin Market Cap: $1294.54B
Altcoin Volume 24h: $85.27B
Total Cryptocurrencies: 35245
Active Cryptocurrencies: 9477
Active Market Pairs: 104342
Active Exchanges: 831
Total Exchanges: 10636
BTC: 115862.6$(2.06%/1H)
ETH: 2909.48$(3.11%/1H)
AVAX: 20.28$(2.05%/1H)
BNB: 683.01$(0.98%/1H)
MATIC: 0$(0.95%/1H)
FTM: 0$(-0.27%/1H)
ADA: 0.67$(1.91%/1H)
DOT: 3.8$(2.21%/1H)
UNI: 8.45$(2.3%/1H)
CAKE: 2.44$(1.14%/1H)
SUSHI: 0.7$(2.53%/1H)
ONE: 0.01$(2.24%/1H)