Amberdata Joins the Pyth Network as a Proprietary Data Provider

NEW YORK, March 1, 2022 /PRNewswire/ — Amberdata, the leading provider of digital asset data, today announced that it has joined the Pyth Network, a next-generation oracle platform designed to deliver trusted and verifiable market data to decentralized applications. Using its market-leading comprehensive data infrastructure, Amberdata will provide real-time crypto price data to the Pyth network.

Data oracles like the Pyth network connect blockchains to off-chain data sources required for decentralized finance (DeFi) applications. Off-chain data has historically only been accessible on-chain through third-party oracles, increasing the risk of manipulation or failure and diluting true data sources. The Pyth network solves these problems by bringing real-world data to the Solana blockchain to begin with, securely and transparently. Amberdata joins over 45 leading data publishers across various asset classes including digital assets, stocks and currencies. Pyth Network participants include FTX, Galaxy Digital, Jeanne StreetJump Trading Group, LMAX, Virtu and CoinShares.

“At Amberdata, we believe that data provider transparency is critical to the success of DeFi, so we are excited to join the Pyth Network as a proprietary provider,” said Shawn Douglas, CEO of Amberdata. “We believe this important partnership will allow us to reach an even wider audience of developers and projects, ensuring they have the most comprehensive and accurate digital asset data to power their applications.”

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About Amberdata
Amberdata is the leading digital asset data provider. We provide comprehensive data and insights on blockchain networks, crypto markets and decentralized finance, empowering financial institutions with data for research, trading, risk, analysis, reporting and compliance. Amberdata serves as a critical piece of infrastructure for financial institutions entering the asset class and participating in digital asset markets. To learn more, visit amberdata.io.

About the Python Network
The Pyth Network is a specialized oracle solution for latency-sensitive financial data that is typically kept behind the “walled gardens” of centralized institutions. The Pyth Network is focused on finding a new, inexpensive way to string this unique data and For more information about the Pyth Network, please visit pyth.network.

About Pyth Data Association
The Pyth Data Association was formed to support the Pyth Network, a specialized oracle solution for latency-sensitive financial data that is typically kept behind the “walled gardens” of centralized institutions. The Pyth Data Association is overseen by a Board of Directors elected by members of the Pyth Network

SOURCEAmberdata

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