DeFi
Launching Pyth Price Feeds on Layer N: Real-Time Data for Enhanced DeFi
Key takeaways
- Pyth price feeds are now available on Layer N, an innovative layer 2 network.
- N-layer developers can access over 500 real-time price feeds for cryptocurrencies and traditional assets.
- Pyth’s integration with Oracle is seamless, enabling high-frequency price updates with minimal code.
THE Python Networkknown for securely providing low-latency, high-frequency price data for various assets on blockchains, announced the launch of Pyth price feed on Layer N. The Pyth network brings together proprietary data from some of the largest Exchanges, market makers and trading firms to provide over 500 real-time data feeds including cryptocurrencies, stocks, ETFs, currency pairs and commodities. This integration should significantly improve the capabilities of the N layer.
What is the N layer?
Layer N is an innovative Layer 2 network designed to maximize on-chain performance and user experience. This network includes custom virtual machines (VMs) powered by a shared communication and liquidity layer, enabling seamless communication, liquidity sharing, and composability between applications and cross-virtual machines (XVMs) without retirement periods or curtailment risks. Developers can build applications on the N layer by creating an XVM or using the public N-EVM instance. The benefits are ultra-low execution latencies, higher throughput, and negligible transaction fees.
The launch of Pyth Price Feeds on Layer N is significant because it provides protocol developers with access to real-time price data, which is crucial for high-throughput DeFi applications. This integration allows N-layer users to leverage Pyth’s Pull Oracle design. It provides continuous access to low-latency, high-frequency price updates on-chain. This seamless integration means developers can integrate real-time pricing data with just a few lines of code.
Deploying Pyth Price Feeds on Layer N is a vital step in establishing a robust DeFi ecosystem within the Layer N environment. Real-time access to price feeds reflecting the world’s markets real is necessary to develop next-generation DeFi applications. Aligning Pyth Network’s capabilities with Layer N’s mission increases the potential for innovative financial solutions on blockchain.
Wrap
The integration of Pyth Price Feeds on layer N is a game changer as it leverages Pyth’s vast data network and advanced infrastructure of layer N. It provides a transparent and high-performance environment for DeFi applications and leaves room for sophisticated and reliable blockchain-based financial products.