{"id":90675,"date":"2024-04-25T00:28:41","date_gmt":"2024-04-25T04:28:41","guid":{"rendered":"https:\/\/ifintechworld.com\/?p=90675"},"modified":"2024-04-25T00:28:42","modified_gmt":"2024-04-25T04:28:42","slug":"pyth-network-price-feeds-launch-on-morph","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=90675","title":{"rendered":"Pyth Network Price Feeds Launch on Morph"},"content":{"rendered":"<div>\n<div class=\"row mb-20\">\n<div class=\"col-12 col-lg-9 col-xl-8\">\n<div class=\"author-section\">\n<div class=\"author-info\">\n<p>\n                                                            <span>Last updated:<\/span><br \/>\n                                                        <time datetime=\"2024-04-25T04:02:05+00:00\"><br \/>\n                              April 25, 2024 00:02 EDT                            <\/time><br \/>\n                                                             <span class=\"date-v-line\">|<\/span> 1 min read                                                    <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div><figcaption class=\"wp-caption-text\"><\/figcaption><p>Pyth Network has now launched its Pyth Price Feeds on Morph testnet, a Layer 2 which is looking to redefine the Ethereum scaling experience by combining ZK technology and optimistic rollups. This update will allow smart contract developers access to over 500 real-time price feeds across digital asset classes.<\/p>\n<p>The Pyth Network is a decentralized oracle network designed which provide high-frequency pricing data to blockchains. Pyth has moved from Solana to Pythnet, its own blockchain built using Solana\u2019s codebase. The original whitepaper proposed an initial protocol design focused on the Solana blockchain. The second version updates the design to reflect the current status of the Pyth ecosystem. In particular, this version describes a novel cross-chain model for price delivery to target chains.<\/p>\n<p>In the blog post, Pyth revealed the partnership with Morph oversees the deployment of the Pyth oracle on Morph to secure its decentralized finance ecosystem.<\/p>\n<h2>Developers May Create \u2018Cutting-Edge\u2019 DeFi Apps<\/h2>\n<p><span class=\"replacer\"><\/span><br \/>\u201cThe partnership between Pyth Network and Morph opens doors for developers to create cutting-edge DeFi applications that leverage reliable data and scalable infrastructure, driving innovation in the decentralized finance space,\u201d said Cecilia Hsueh, the co-founder and CEO of Morph.<\/p>\n<p>Morph is described as Ethereum Layer 2 chain that introduces a sequence network to promote efficiency and reduce operational overhead. Morph combines optimistic rollups with its innovative Responsive Validity Proof and ZK-proofs to verify state, explains the blog post.<\/p>\n<blockquote>\n<p>The deployment of the Pyth pull oracle will empower DeFi protocols on Morph to permissionlessly request or \u201cpull\u201d price updates from the Pythnet appchain on demand. The gas efficiency of Pyth\u2019s innovative pull architecture ensures that downstream users in the Morph ecosystem always benefit from continual access to high-frequency market data and the most recently updated price.<\/p>\n<\/blockquote>\n<p><span>In March, Morph raised a seed funding round of $19 million with participation from Pantera Capital, Foresight Ventures, Spartan Group, and Symbolic Capital. <\/span><span>Pyth is currently available on Morph using the <\/span><span data-token-index=\"5\">Pyth Stable<\/span><span> price sources accessible through Hermes Stable.\u00a0<\/span><\/p>\n<p><span>Pantera Capital has described Morph as an L2 solution, incubated by Bitget, with an ecosystem tailor-made for value-driven applications. <\/span><\/p>\n<p><span>\u201cThe uniqueness of Morph lies in its approach to leveraging Bitget\u2019s ecosystem. On the technical side, Morph\u2019s innovations such as a hybrid rollup scheme, modular framework, and being the first L2 to launch on Ethereum with a decentralized sequencer, position it as a leader in EVM scaling technology,\u201d said Pantera Capital on its website.<\/span><\/p>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/pyth-network-price-feeds-launch-on-morph.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last updated: April 25, 2024 00:02 EDT | 1 min read Pyth Network has now launched its Pyth Price Feeds on Morph testnet, a Layer 2 which is looking to redefine the Ethereum scaling experience by combining ZK technology and optimistic rollups. This update will allow smart contract developers access to over 500 real-time price [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":90676,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-90675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pyth Network Price Feeds Launch on Morph | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Last updated: April 25, 2024 00:02 EDT | 1 min read Pyth Network has now launched its Pyth Price Feeds on Morph testnet, a Layer 2 which is looking to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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