Cryptocurrency

Filecoin

DeFi

Nexo

Pyth Network

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 <p class="paragraph">On January 30, in a de<a rel="dofollow" title="centralized" href="https://thebittimes.com/tag/centralized.html">centralized</a> <a rel="dofollow" title="storage" href="https://thebittimes.com/tag/storage.html">storage</a> and finance ecosystem development, the Pyth Network formally introduced its <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> <a rel="dofollow" title="feeds" href="https://thebittimes.com/tag/feeds.html">feeds</a> on the Filecoin Virtual Machine (FVM). This integration represents an achievement for Filecoin (FIL), a de<a rel="dofollow" title="centralized" href="https://thebittimes.com/tag/centralized.html">centralized</a> <a rel="dofollow" title="storage" href="https://thebittimes.com/tag/storage.html">storage</a> network that preserves critical human data, per the information shared with Finbold.</p> 
 <p class="paragraph">Using Pyth’s real-time market data feeds, Filecoin is positioned to augment the capabilities and operational efficiency of smart contracts within its network, expanding on decentralized finance opportunities.</p> 
 <h2 class="wp-block-heading" id="h-harnessing-the-potential-of-decentralized-storage">Harnessing the potential of decentralized storage</h2> 
 <p class="paragraph">Filecoin, known for its peer-to-peer network providing secure and dependable file storage, is advancing through this collaboration. The network’s model, blending economic incentives with cryptographic proofs, provides a secure and enduring maintenance of stored files.&nbsp;</p> 
 <p class="paragraph">This approach democratizes access to <a rel="dofollow" title="storage" href="https://thebittimes.com/tag/storage.html">storage</a> solutions and encourages the development of open marketplaces for file <a rel="dofollow" title="storage" href="https://thebittimes.com/tag/storage.html">storage</a> and retrieval, altering the conventional paradigm of <a rel="dofollow" title="centralized" href="https://thebittimes.com/tag/centralized.html">centralized</a> <a rel="dofollow" title="storage" href="https://thebittimes.com/tag/storage.html">storage</a> providers.</p> 
 <h2 class="wp-block-heading" id="h-connecting-decentralized-finance-and-decentralized-storage">Connecting Decentralized Finance and Decentralized Storage</h2> 
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 <p class="paragraph">Incorporating Pyth Price Feeds into the Filecoin Virtual Machine introduces more than 400 live market data feeds, providing direct accessibility to developers. This advancement is more than technical improvement; it establishes resilient markets within the Filecoin ecosystem.</p> 
 <blockquote class="wp-block-quote"> 
  <p class="paragraph">Jonathan Victor, Co-Founder at Ansa Research, underscores the significance of this collaboration, stating:&nbsp;<br>“The launch of Pyth Price Feeds is a critical pillar for propelling the DeFi ecosystem on the FVM to accelerate in 2024.”</p> 
 </blockquote> 
 <p class="paragraph">The Pyth Network provides global, low-latency, high-fidelity financial data from institutional market participants. This network comprises exchanges, market makers, and trading firms contributing proprietary data. Pyth then aggregates and provides this data on-chain for smart contracts. Securing over $2 billion in value in less than a year and supporting 400+ real-time price feeds spanning various asset classes.&nbsp;</p> 
 <h2 class="wp-block-heading" id="a-prospect-forged-through-collaboration-and-innovation">A prospect forged through collaboration and innovation</h2> 
 <p class="paragraph">The collaboration between Filecoin and Pyth encapsulates a vision for the future of decentralized markets. Through secure, transparent, and real-time access to financial data, Filecoin and Pyth are laying the foundation for decentralized finance applications on the FVM.</p> 
 <p class="paragraph">Developers are invited to delve into Pyth Data and actively contribute to the burgeoning ecosystem, with readily available resources for those seeking to engage in this innovative space.</p> 
 <p class="paragraph">Looking ahead, integrating Pyth Price Feeds on the Filecoin Virtual Machine indicates the potential of de<a rel="dofollow" title="centralized" href="https://thebittimes.com/tag/centralized.html">centralized</a> technologies to reshape conventional market structures.</p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/filecoin-integrates-pyth-price-feeds-to-enhance-decentralized-storage-tbt78342.html">https://thebittimes.com/filecoin-integrates-pyth-price-feeds-to-enhance-decentralized-storage-tbt78342.html</a></p>

Filecoin integrates Pyth price feeds to enhance decentralized storage

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TheBitTimes

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