PYTH network aims to connect the blockchain to the information in the real world.  A blockchain is a protocol and as such, it does not have access to data unless it is provided.  

PYTH Network is described as a decentralized oracle protocol that aims to provide reliable and secure access to financial market data [on-chain](https://pyth.network/blog/what-is-the-pyth-network)   It is the largest first-party oracle network for publishing financial market data on-chain, sourcing its data from over 90 first-party data providers, including some of the biggest exchanges and market makers. The network offers real-time price feeds for cryptocurrencies, equities, foreign exchange pairs, ETFs, and commodities to smart contract developers on more than 40 blockchains.

The native token of PYTH network is the PYTH token.  According to [token insight](https://tokeninsight.com/en/news/oracle-network-pyth-announces-pyth-tokenomics),  PYTH has a maximum supply of 10,000,000,000 tokens, with an initial circulating supply of 1,500,000,000 tokens 2. 85% of the PYTH tokens are initially locked and will unlock 6, 18, 30, and 42 months after the initial token launch 2. The PYTH token is used to incentivize data providers to publish accurate and timely data on the network 2.

PYTH Network is touted as a game-changer in the world of decentralized finance (DeFi) as it provides a reliable and secure way to access financial market data on-chain. With its real-time price feeds for various asset classes, PYTH Network is a valuable resource for smart contract developers on more than 40 blockchains.

**What makes PYTH unique?**

PYTH Network is unique in that it is a first-party oracle network that sources its data directly from over 90 first-party data providers. This is in contrast to other oracle protocols that rely on third-party data providers or crowdsourcing to obtain their data. By sourcing its data directly from first-party data providers, PYTH Network can provide more reliable and secure access to financial market data on-chain.

The PYTH network is in the same general category as Chainlink, which is regarded as the leading network that uses oracles.  The market capitalization of chainlink reached a high of USD22B on May 10, 2021, and has approximately USD7B market cap as of the writing of this article in January of 2024.  

In comparison, PYTH has a market capitalization of approximately USD500M as of the writing of this article.    The highest market capitalization of PYTH was approximately USD800M in November of 2023.  



The basics of PYTH network and its native token, PYTH.  

Mon Jan 15 2024 The basics of PYTH - A Decentralized Oracle Protocol for Real-Time Financial Market Data

Mon Jan 15 2024

The basics of PYTH - A Decentralized Oracle Protocol for Real-Time Financial Market Data