How Pyth Network is trying to revolutionize a $6 billion Wall Street business

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By BitcoinWiki News

Key Takeaways:

– The Scoop podcast episode 85 featured Douro Labs CEO Michael Cahill discussing the Pyth Network and its advantages as an oracle network for real-time financial market data delivery.
– Pyth Network offers unique benefits over other oracle providers.
– Replicating the centralized trading experience on-chain is currently hindered by obstacles.
– DeFi is approaching feature parity with backend elements of derivatives trading on centralized exchanges, but the user experience is still a challenge.
– Pyth Network was incubated by Jump Trading and went live on Solana mainnet in August 2021.

In Episode 85 of Season 5 of The Scoop, CEO of Douro Labs, Michael Cahill, discusses the Pyth Network, an oracle network that delivers real-time financial market data to smart contract applications. Cahill highlights the advantages of Pyth Network over other oracle providers and explains the obstacles in replicating the centralized trading experience on-chain. While decentralized finance (DeFi) has made progress in backend elements of derivatives trading, the user experience remains a challenge. Pyth Network was incubated by Jump Trading and launched on Solana mainnet in August 2021.

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