- The Open Network (TON) is teaming up with Pyth Network, a popular Oracle protocol, to enhance dApp development on the TON platform.
- Pyth will provide real-time, high-fidelity data feeds and potentially help TON scale to a broader audience.
- The collaboration aims to empower TON developers with better tools for creating innovative applications and sound in-game economies by integrating Pyth’s Oracle data feeds.
The Open Network (TON), the decentralised blockchain platform built by Telegram’s founder, has announced a strategic partnership with the DePIN-centric protocol Pyth Network. This collaboration aims to enhance developers’ capabilities working on the TON platform by providing them access to Pyth’s high-fidelity, real-time data feeds.
Related: Telegram Boosts Crypto Integration, Launches Feature for Creators to Earn Toncoin
According to the announcement, the partnership centres around integrating Pyth’s Pull Oracle data feeds, which are crucial for developing decentralised applications (dApps) on TON. This will provide TON developers with better equipment and allow them to create innovative and competitive applications and in-game economies within the blockchain ecosystem.
.@PythNetwork and @ton_blockchain have partnered to unlock high-fidelity data for builders looking to put crypto in every pocket.
Pyth’s pull oracle is set to supercharge the developer experience on TON by offering apps the fastest, most efficient, and most reliable data in… pic.twitter.com/PvcWvmhJRv
— Pyth Network 🔮 (@PythNetwork) August 14, 2024
It’s much more than gaming, though. Real-time data feeds are also expected to play a crucial role in expanding the reach of TON’s DeFi projects. That’s because accurate and fast transaction processing is vital for DeFi services. By that logic, Pyth’s Oracle can help TON projects scale their audience on a global level.
Michael Cahill, CEO of Douro Labs and a core contributor to Pyth, told Cointelegraph that these feeds are secured with multiple layers of protection that further enhance TON’s development capabilities.
These measures are in place to give TON developers and all other supported ecosystems the confidence to build cutting-edge DeFi that will serve potentially millions of users.
Michael Cahill, CEO of Douro Labs
Enter DePIN
Pyth Network is highly centred around DePIN.
DePIN, or Decentralised Physical Infrastructure Networks, is an emerging sector in the DeFi space. It’s complex to explain to a certain level because it is a broad field with many moving parts and integrations with other DeFi components, such as real-world assets (RWAs) and the Internet of Things (IoT).
But in a nutshell, DePIN refers to the application of blockchain tech to a global network of physical infrastructure powered by a global network of participants who provide the computing resources to keep those systems running.
Related: Analyst Miles Deutscher Reveals 5 DePIN Coins That Could Go Ballistic, Get Ready For 50X
That said, Pyth Network has become a crucial player in the DePIN sector, providing real-time data for those networks to function correctly. In energy distribution networks, for example, accurate pricing data can help with the optimisation of resource allocation and pricing strategies.
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