Monday, 17 June 2024

Crypto News

Pyth Price Feeds now accessible to all Aurora Virtual Chains on Aurora Cloud

Pyth Price Feeds launch on Aurora Cloud

  • Pyth Price Feeds launch on Aurora Cloud, enhancing real-time data access to dApp developers.
  • Aurora Virtual Chains developers can now get permissionless access to 500+ real-time price feeds on Aurora.
  • The integration reduces costs and boosts efficiency for Aurora Virtual Chains.

Pyth Network has announced the launch of its price feeds on Aurora Cloud after a collaboration with the Aurora Labs team. This will make Pyth Price Feeds permissionlessly accessible to all upcoming Aurora Virtual Chains, marking a major milestone in the integration of real-time data with decentralized applications.

Aurora, an Ethereum Virtual Machine created by the NEAR Protocol team, offers a turn-key solution for developers seeking an Ethereum-compatible, high-throughput, scalable platform with low transaction costs. It consists of the Aurora Engine, a high-performance EVM, and the Aurora Bridge, which enables the trustless transfer of ETH and ERC-20 tokens between Ethereum and Aurora.

The governance of Aurora is managed by a hybrid model combining a Decentralized Autonomous Organization (AuroraDAO) and a traditional entity.

On the other hand, Pyth Network stands out as a first-party financial data oracle network, aggregating proprietary data from some of the world’s largest exchanges and trading firms. This data is then securely delivered to blockchains, supporting over 350 applications and securing more than $5 billion in total value locked (TVL).

Aurora Virtual Chains developers to now access real-time price feeds

The Pyth Price Feeds have been available on Aurora since late 2022 and have powered leading applications such as Aurigami.

However, the new architecture of Aurora Virtual Chains, which are dedicated EVM-compatible blockchains built on the NEAR Protocol, ensures seamless communication with Aurora, offering a direct connection to the Pyth oracle. This setup not only facilitates immediate integration but also minimizes costs for developers, as they can utilize price updates shared by others within the network.

The Aurora Virtual Chains offer developers a customized and dedicated blockchain environment. These chains provide an ideal platform for leveraging the robust capabilities of the Pyth Network, which delivers low-latency price data for a wide range of assets.

Following the collaboration with Pyth Network, developers on Aurora Virtual Chains…

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