### What is Pyth Network?

Pyth Network is a decentralised data infrastructure designed to facilitate the sharing of high-fidelity, real-time financial market data between data providers and consumers. Primarily operating on the Solana blockchain, it is built to supply accurate, low-latency data to decentralised finance (DeFi) applications and smart contracts. The network was launched in August 2021 by the Pyth Data Association and integrates with cross-chain technologies, allowing broad access across over 40 blockchains.

### How does Pyth Network work?

Pyth Network aggregates data from a diverse array of financial institutions, exchanges, and trading firms, known as data providers. The network employs an aggregation model that combines these data inputs into a single reliable price feed, complete with a confidence interval. Data is updated rapidly, roughly every 400 milliseconds, to ensure low-latency delivery. After validation, the aggregated data is made available on supported blockchains via a decentralised oracle protocol, facilitating seamless use within smart contracts and DeFi applications.

### What are the potential use cases for Pyth Network?

Potential use cases for Pyth Network span across various sectors of the blockchain industry:

- **Decentralised Exchanges (DEXs):** Provides real-time asset pricing for efficient trading and risk management.
- **Lending Platforms:** Supports accurate price updates for liquidations, stablecoin value pegs, and risk-managed derivatives.
- **Yield Optimisation:** Assists DeFi protocols in managing staking rewards and liquidity risks.
- **Benchmarks and Analytics:** Supplies historical data for smart contract audits and market analysis.
- **Security Enhancements:** Offers express relay for MEV protection and secure on-chain randomness through its Entropy feature.

### What is the history of Pyth Network?

Pyth Network was founded by leading financial and crypto experts under the Pyth Data Association. It launched on the Solana blockchain in August 2021, providing high-speed price feeds encompassing over 30 crypto assets. Expansion continued with the introduction of Pythnet, a separate proof-of-authority blockchain, and integration with the Wormhole bridge to enable cross-chain capabilities. In November 2023, Pyth launched its governance token, PYTH, furthering its community involvement, and marked significant market growth by 2024, establishing itself as a notable competitor in the oracle space.

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