Pyth’s Oracle Technology for Data Delivery Boosts
Talking about the latest successful partnership in a decentralized mode. To name one, which is between, on the one hand, The Open Network (TON) and on the other, Pyth Network as a decentralized data oracle. This collaboration is definitely going to promote data delivery for the TON blockchain developers. The company plans to utilize Oracle data feeds from Pyth to add to its array of development tools for the creation of DApps which are innovative and decentralize.
Pyth Network’s popular oracle technology is the one that has been attributed to real-time and institutional-grade price data supplies regarding the need of wealth within a decentralized finance (DeFi) application. The process of integration is likely to enrich TON development, in the first place, thereby the delivery of more advanced and reliable financial solutions will become feasible.
Security and Reliability of Pyth’s Price Feeds
Additional features such as tighter protection making Pyth’s price feeds more secured, as they are not influenced by other channels. Pyth implements various security systems to protect the privacy of users, thus TON developers well as the Bitcoin and Solana ecosystems supported by Pyth—will be able to create the vast DeFi ecosystem. of the DeFi Solutions Arena, which serves millions of users, safely.
Making a mistake is not recommended, though, when we talk about the security and accuracy of real-time price data. Thus, high-quality speed and authenticity can be achieved by the use of Pyth feeds, which the TON-based developers can use to get the data they require without the possibility of being affected by drawbacks from the decentralized financial systems.
Impact on the TON Ecosystem
The cooperation between TON and Pyth may cause a big change in many TON areas, especially in the DeFi sector. By utilizing Pyth’s high-quality and low-latency data, programs on TON are able to give more financial services with the help of fast transaction times on the network.
According to the TON’s plan, the cooperation is aimed at attracting and involving a larger audience on its blockchain. TON is giving more power to the data consumers rather than the data producers by unveiling the tool of secure delivery of data. This is in contrast to the position it took by being the first unified blockchain infrastructure and ecosystem for decentralized applications.
Broader Collaborations and Expansions
Not only does TON get involved with Pyth Network but TON has also shared data with IntoTheBlock (ITB), the main on-chain analytics and DeFi services provider. The interconnectedness allows for the community to improve data research and analysis methodologies, while those working on projects can rely on the promise of interoperable systems for software development.
On the other side, Pyth Network has the power to influence several blockchain networks globally. The oracle has formed alliances with DeFi teams that focus on Ethereum and Base blockchains, such as Morpho, and Gauntlet, to boost lending and borrowing functions.
Telegram’s Expansion into Digital Payments
At present, the messaging app Vedrush came into existence outside the TON ecosystem, with this, Telegram, the messenger that was successively linked to TON, has come out with a digital payment side feature named “Telegram Stars.” This option is unique people are also able to make in-app purchases on both iOS and Android devices, making it a significant addition to Telegram as it monetizes its users.
For a start, Telegram might have diversified into a number of mini-apps comprising Hamster Kombat, but that seems not to be enough, as it currently hosts multiple mini-apps that amass many users. The fact that Hamster Kombat, a game was a huge success in that it is now the leading channel on Telegram testifies to the current effect the game has on the Web3 gaming space.
As the Next Web reports, Pixelwave, a Web3-based Telegram community, closed a deal to raise the amount of $5.5M in a round led by the hotshot investors in crypto and gaming sectors. It seems that this fund raising is likely to bring about the further development of the gaming sector and also increase the gaming community of Telegram.
