Michael James, head of institutional business development at Douro Labs-company that has developed the Oracle Oracle network of high-speed Pyth-Cointelegraph that Oracle networks such as PYTH disrupts the $ 50 billion financial data industry that provides information about the critical price of exchange, brokers, vitality trading, and other institutional data.
In an interview in consensus 2025, the CEO said that the PYTH network withdrawal form distinguishes it from the traditional oacles, allowing customers to pay the price of data on request, which reduces the costs of institutions that depend on market data in the actual time.
According to the CEO, the financial data industry is currently monopolizing about eight main service providers who arbitrarily raise continuous prices on customers. James added:
“Data sellers have no competition in traditional financing, and therefore they have all the power of pricing in the world. There is no replacement susceptibility; whether you are a bank or a hedge box and you are trading more or less – you still have to buy this data for compliance reasons.”
The high costs of innovation in financial statements prevent small to medium -sized companies from participating in the global financial services industry, which focuses on the sector in the hands of a few big players and preventing new use cases from young people.
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Pyth suffers from significant growth in 2024
Pyth Oracle provides market data in actual time, prices for encrypted currencies, stocks, foreign exchange markets (Forex), goods and prices.
In December 2024, PYTH announced the launch of the actual time price pricing data on more than 80 Blockchain network.
Von -time oil prices are followed by West Texas Interidia (WTI) and Brent crude oil, collecting data from multiple sources and disinfecting the path of energy derivatives and energy trading tools on Blockchain bars.
Throughout 2024, the PYTH network has increased the guaranteed total value (TVS), a measure that tracks the amount of capital guaranteed by the Oracle network, 46 times.
according to Data From Defillalama, Pyth is currently getting about 11.3 % of the Oracle Oracle market, up from about 10.8 % in the reported market share in September 2024.
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