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Blockchain networks can be incredibly versatile tools, but they're only as reliable as the data they contain. Adding accurate and reliable data to blockchain technology can be surprisingly challenging. Pyth Network hopes to solve this issue by using oracles to add real-time market data to blockchains. To see how this interesting technique works and why it's so revolutionary, read this helpful guide.
Key Takeaways:
Pyth Network is a system of blockchain oracles that takes real-world crypto price data and adds it to blockchain networks.
The system held a token airdrop on Nov 20, 2023, in which it distributed 600 million tokens to its users.
Looking to trade Pyth Network tokens? Bybit now offers the PYTH/USDT Spot trading pair. In celebration of this listing, Bybit is holding an event where you can earn a share of the 80,000 USDT prize pool!
Pyth Network is a system of blockchain oracles that takes real-world crypto price data and adds it to blockchain networks. This makes it possible for users to easily track crypto markets and set up smart contracts that respond to crypto price shifts.