The latest announcement on June 17th has brought new energy to the decentralized finance ecosystem of Solana. Pyth Network has introduced its pull oracle on the Solana blockchain, enhancing the network that was already in operation. This new feature is designed to revolutionize the way developers access and utilize data on the blockchain, with a focus on improving reliability, speed, and security.
According to Pyth Network, the deployment of the pull oracle on Solana will offer users a range of benefits, including increased reliability, higher frequencies, more feeds, access to historical data, and improved security. This move aims to meet the needs of Solana DeFi users and provide them with a more efficient and secure way to interact with the blockchain.
By deploying the Pyth Network pull oracle on Solana, developers on the mainnet-beta can now access Pyth oracle pricing by actively requesting price updates from the Pythnet application chain into the Solana environment. This development is expected to streamline the process of accessing oracle data and improve the overall user experience on the platform.
Solana strategist Austin Federa emphasized the significance of oracles in the blockchain industry, highlighting Pyth’s high-frequency oracle network as a driving force in the space since 2021. The introduction of the pull oracle on Solana is seen as a step towards providing developers with more control and flexibility in consuming oracle data, paving the way for further growth in the world of new SVM networks.
It is important to note that the opinions expressed in this article are for informational purposes only and should not be considered as financial or investment advice. Investing in cryptocurrencies carries a certain level of risk and individuals should proceed with caution.
In other news, industry experts like Michael Novogratz have praised Solana for its innovative approach, while analysts predict a rally for Toncoin and Solana of over 40%.