HBAR Foundation Collaborates with Pyth Network, Here's the Goal!

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Bittime - Good news for developers and users of DeFi (Decentralized Finance) applications on the Hedera network. Today, HBAR Foundation and Pyth Network announced a strategic partnership that brings access to over 400 real-time pricing into the Hedera network.

Through this partnership, developers can now easily leverage real-time price data for a wide range of assets, from cryptocurrencies, foreign exchanges, commodities, to stocks and exchange-traded funds (ETFs).

Advantages of Using Pyth Price Feeds:

• Fast and Reliable Access: Continuous access to up-to-date pricing data with low latency, so developers can build more efficient and responsive DeFi applications.
• Stability & Reliability: Pyth Price Feeds' "confidence interval" feature helps developers anticipate market volatility and disruptions, thereby increasing the stability and resilience of their DeFi applications.
• Enriching Financial Innovation: The availability of complete and accurate price data is an important factor for the development of innovative financial instruments in the future.

Get to know Pyth Network

Pyth Network is an oracle network that provides reliable, real-time price data for various blockchain platforms. With this integration, developers on the Hedera network can take advantage of Pyth Network's advantages, such as:

• Oracle Pull Design: Allows developers to directly request pricing data when needed, without needing to rely on a centralized source.
• High Quality Data: The Pyth Network is backed by a global community of experts who ensure the accuracy and accuracy of the data provided.

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Positive Impact on the DeFi Ecosystem

This new paradigm in price data access was enthusiastically welcomed by various parties, one of which was the HBAR Foundation. Director of Business Development, Grace Pfluger, stated:

"The availability of open price data is an important component to drive economic activity in the DeFi ecosystem. This infrastructure is a major achievement in the development of innovative financial instruments in Hedera."

Start Used by HLiquity

HLiquity, a decentralized lending protocol built on the Hedera network, became the first application to utilize Pyth Price Feeds. This will certainly increase efficiency and transparency in the lending process on the platform.

Conclusion

Integrasi Pyth Price Feeds ke dalam jaringan Hedera merupakan langkah penting yang berpotensi mempercepat adopsi dan inovasi dalam dunia DeFi. Akses mudah ke data harga real-time yang andal akan menjadi pijakan yang kuat bagi developer untuk membangun aplikasi DeFi yang inovatif dan handal di masa depan.

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Also Read:

HBAR Price Prediction: Will Hedera Hashgraph (HBAR) Go Up?

What is Wrapped HBAR (WHBAR)? Bringing Hedera Hashgraph to the DeFi World

Hedera (HBAR): A Fast, Secure and Eco-Friendly Blockchain Platform

DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.