According to Blockworks Research, the oracle market has multiple niches. The firm has developed a new indicator that more accurately assesses the usage of oracles in those niches, and it shows that Chainlink is not dominating in all of them.
The companies have launched a data competition focused on cryptocurrency predictions, with a $20k prize pool. Results could provide valuable insight for investors.
According to Blockworks Research, the oracle market has multiple niches. The firm has developed a new indicator that more accurately assesses the usage of oracles in those niches, and it shows that Chainlink is not dominating in all of them.
The companies have launched a data competition focused on cryptocurrency predictions, with a $20k prize pool. Results could provide valuable insight for investors.
The pull oracle enables users to retrieve prices on-chain only when necessary. This approach enhances existing oracles by eliminating the transaction costs that oracles and data providers typically incur, allowing Pyth to scale in ways traditional oracles cannot.
The growth in Chainlink’s TVS, now at about $25 billion, highlights the vibrant activity in the DeFi sector, particularly on Ethereum. Additionally, the significant increase in TVS on Arbitrum, reaching nearly $2.5 billion, showcases its rapid development as a Layer 2 solution.
The PYTH token’s resurgence above $0.50 is largely attributed to its incentivized staking model, attracting stakers with the promise of airdrop rewards from partners.
Pyth Network is distributing 250 million tokens to its community, worth approximately $87 million. With over 230 dApps integrated and expansion to over 40 blockchains, Pyth is shaping up as a major player in the blockchain oracle space.
