Pyth Network has taken a bold step by launching Pyth Price Feeds on the Morph test network. The initiative is an important milestone in a joint effort to address Ethereum's scalability challenges, combining the sophistication of Zero-Knowledge (ZK) technology and optimistic rollups.
The Purpose of Pyth's Cooperation with Morph
The ultimate goal is to create an ecosystem that is more efficient and responsive to the needs of smart contract developers, by providing access to over 500 real-time price feeds covering various digital asset classes.
Pyth Network, known as a decentralized oracle network, has demonstrated its commitment to providing blockchains with accurate and up-to-date pricing data. The transition from Solana to Pythnet, an independent blockchain built on Solana's base code, marks a significant evolution in Pyth's strategy.
Check the Crypto Market Today:
Model Cross Chain
With an updated whitepaper, Pyth introduces a cross-chain model that allows sending price data to various target blockchains, confirming its position as a leader in providing financial data for the Web3 ecosystem.
The strategic partnership between Pyth Network and Morph has opened up new opportunities for developers to create innovative DeFi applications. Cecilia Hsueh, co-founder and CEO of Morph, emphasized the importance of this collaboration in driving innovation and enriching the decentralized finance space.
How to Buy Crypto:
Pyth Integrates with Morph
Morph itself has redefined Ethereum's Layer 2 concept by introducing a sequence network that increases efficiency and reduces operational burden. The integration of optimistic rollups with Responsive Validity Proof and ZK-proofs innovations has strengthened the foundation of status verification in Morph, promising better security and speed.
Pyth's pull oracle, now integrated with Morph, allows the DeFi protocol to request price updates from Pythnet as needed, guaranteeing gas efficiency and access to continuously updated market data.
Seed Funding
The $19 million seed funding raised by Morph in March, with support from Pantera Capital, Foresight Ventures, Spartan Group, and Symbolic Capital, demonstrates investors' strong confidence in Morph's vision and potential.
Pantera Capital, one of the lead investors, described Morph as a unique Layer 2 solution, incubated by Bitget and designed specifically for high-value applications. Morph's technical innovations, such as hybrid rollup schemes, modular frameworks, and decentralized sequencers, have placed it at the forefront of Ethereum Virtual Machine (EVM) scalability technology.
Check Crypto Price Today:
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.
Learn the Complete Guide on How to Buy Crypto on Bittime.
Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Pyth Network: Everything You Must Know!
What is Pyth Network (PYTH)? Oracle Blockchain Chainlink Competitor
Altcoins Rise as Bitcoin Rebounds: These Two Tokens Are in the Spotlight
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.
Comments
0 comments
Please sign in to leave a comment.