Pyth Network is a protocol for the real-time transfer of market data, primarily focusing on providing accurate and high-speed financial asset prices (such as stocks, cryptocurrencies, commodities, forex pairs) for blockchain networks and decentralized applications (dApps).

It can be considered a bridge connecting traditional financial markets with the decentralized world, bringing reliable and high-quality financial data directly from the source to the blockchains.

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The problem that Pyth Network solves

In the traditional world and outside of blockchain, we obtain price data from sources like Bloomberg, Reuters, or exchanges like NYSE. But within the blockchain environment, decentralized applications (such as lending protocols, trading, and derivatives) face a significant issue:

1. Lack of reliable data: Traditional sources are not directly connected to the blockchain.

2. Slowness and cost: Obtaining accurate data from off-chain sources and uploading it on-chain is a slow and costly process.

3. Manipulation: Some data delivery models (like "Single Oracle") can be susceptible to manipulation if compromised, leading to significant losses for users.@Pyth Network