Amberdata Joins the Pyth Network as a First Party Data Provider

Amberdata’s institutional-grade data platform will provide comprehensive, high quality digital asset data on-chain through the Pyth Network

Amberdata, the leading provider of digital asset data, today announced it has joined the Pyth network, a next-generation oracle platform designed to provide trusted and verifiable market data to decentralized applications. Through its market leading comprehensive data infrastructure, Amberdata will provide real-time crypto price data to the Pyth network.

Marketing Technology News: How Color Star Brings Fans Into the Metaverse with Color World

Data oracles like the Pyth network connect blockchains to the off-chain data sources required for decentralized financial (DeFi) applications. Off-chain data has historically been accessible on-chain only through third-party oracles, which increase manipulation or failure risk, and dilute the true sources of data. The Pyth network addresses these problems by bringing real-world data to the Solana blockchain to start, in a secure and transparent manner. Amberdata joins more than 45 prominent data publishers across various asset classes, including digital assets, equities, and FX. Participants in the Pyth network include FTX, Galaxy Digital, Jane Street, Jump Trading Group, LMAX, Virtu, and CoinShares.

“At Amberdata we believe data provider transparency is critical to the success of DeFi, so we’re excited to join the Pyth network as a first party provider,” said Shawn Douglass, CEO of Amberdata. “We believe that this important partnership will enable us to reach an even broader audience of developers and projects, ensuring they have the most comprehensive, high-fidelity digital asset data to power their applications.”

Marketing Technology News: MarTech Interview with Francis McMahon, EVP, Canon Solutions America