Pyth Network (PYTH) is a decentralized oracle platform. Its oracle infrastructure enables the secure delivery of both on-chain and off-chain data to blockchains. This article provides an overview of Pyth Network (PYTH), how it works, and how to trade it on BtcTurk | Global.
TABLE OF CONTENTS
What is Pyth Network (PYTH)? How Does It Work?
Pyth Network (PYTH) is an oracle infrastructure that sources data from over 95 providers, including global exchanges and financial centers, and distributes it to more than 150 protocols across over 40 blockchains. Oracle infrastructures like Pyth Network ensure that applications running on blockchains function accurately and reliably.
Pyth Network runs its oracle infrastructure simultaneously on the Solana blockchain and on its own independent blockchain, Pythnet. The system on Solana supports applications within the Solana network, while the system on Pythnet serves blockchains outside of Solana.
Pyth Network aims to deliver decentralized oracle services as an alternative to centralized oracle solutions used by blockchain applications.
Pyth Network was founded by Michael Cahill, Jayant Krishnamurthy, and Ciaran Cronin.
PYTH is the governance token of Pyth Network. Decisions regarding platform changes are made based on the votes of PYTH token holders.
PYTH is an SPL (Solana Program Library) token operating on the Solana network. Due to Pyth Network’s cross-chain services, PYTH tokens are also available on multiple blockchains beyond Solana. You can find the latest active blockchains and contract addresses for PYTH here.
The total supply of PYTH is capped at 10,000,000,000 tokens.
You can access the Pyth Network (PYTH) website here: https://pyth.network/.
Access the PYTH whitepaper here.
How to Store Pyth Network (PYTH)?
PYTH is an SPL-based token. You can manage your PYTH balances using browser, desktop, mobile, and hardware wallets that support the Solana blockchain.
For other blockchains where the PYTH token is active, you can use browser, desktop, mobile, and hardware wallets compatible with those blockchains.
How to Buy and Sell Pyth Network (PYTH)?
You can buy and sell Pyth Network (PYTH) with Tether (USDT) using the BtcTurk | Global website or mobile app. If you’re not yet a member, you can easily register on our website or app and buy Pyth Network (PYTH) by depositing cryptocurrency.
