Entropy

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DeFi

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<div class="finbold">
 <p class="paragraph"><br>Pyth Network, a financial data oracle network, has announced the <a rel="noopener noreferrer nofollow" title="launch" href="https://thebittimes.com/tag/launch.html">launch</a> of Pyth Price Feeds and Entropy on Sei V2, as per the information shared with Finbold on May 27.</p>
 <p class="paragraph">This advancement allows developers on Sei V2, the first parallelized Ethereum Virtual Machine (EVM) designed to offer developers enhanced flexibility and <a rel="noopener noreferrer nofollow" title="scalability" href="https://thebittimes.com/tag/scalability.html">scalability</a>, to access over 500 real-time price feeds for digital and other major asset classes, as well as a secure and reliable source of on-chain random number generation.</p>
 <h2 class="wp-block-heading" id="h-real-time-pyth-data-on-sei-v2">Real-time Pyth data on Sei V2</h2>
 <p class="paragraph">The Pyth Network’s pull oracle for price feeds provides Sei users with permissionless access to low-latency price updates on-chain, which is crucial for securing next-generation apps in decentralized finance (DeFi).&nbsp;</p>
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 <p class="paragraph">Additionally, Entropy enables Sei V2 developers to design unpredictable outcomes for Web3 applications, including gaming, non-fungible tokens (NFTs), and prediction markets.</p>
 <p class="paragraph">Sei V2 is full of <a rel="noopener noreferrer nofollow" title="Category Features" href="https://thebittimes.com/features.html">Features</a> aimed at boosting blockchain performance and <a rel="noopener noreferrer nofollow" title="enhancing" href="https://thebittimes.com/tag/enhancing.html">enhancing</a> the developer experience.&nbsp;</p>
 <p class="paragraph">The interoperable EVM allows seamless deployment of existing Ethereum (ETH) applications without modifications, offering a remarkable 100x performance improvement and continued support for CosmWasm.&nbsp;</p>
 <h2 class="wp-block-heading" id="h-the-importance-of-on-chain-randomness-in-defi">The importance of on-chain randomness in DeFi</h2>
 <p class="paragraph">The Pyth pull oracle architecture allows apps to request price updates from the Pythnet appchain as needed.</p>
 <p class="paragraph">This ensures the Sei ecosystem has access to high-frequency market data and the latest price updates in a gas-efficient manner.&nbsp;</p>
 <p class="paragraph">Moreover, Pyth Entropy enhances Sei’s capability to support a wider array of decentralized applications, improving user experience and trust.&nbsp;</p>
 <p class="paragraph">On-chain randomness is critical for applications relying on unpredictability, such as gaming, lotteries, and any protocol requiring fair distribution processes.</p>
 <h2 class="wp-block-heading" id="h-wrapping-up">Wrapping up</h2>
 <p class="paragraph">By incentivizing major exchanges, market makers, and trading firms to contribute their proprietary data, Pyth ensures high-quality price information is aggregated on-chain for use in smart contracts.&nbsp;</p>
 <p class="paragraph">Decentralized applications can request or pull these price updates as needed.</p>
 <p class="paragraph">With over $5 billion in total value locked (TVL), Pyth supports more than 350 protocols and offers over 500 real-time data feeds, including crypto, equities, ETFs, Forex pairs, and commodities.&nbsp;</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/pyth-price-feeds-and-entropy-launch-on-sei-v2-enhancing-scalability-tbt90042.html">https://thebittimes.com/pyth-price-feeds-and-entropy-launch-on-sei-v2-enhancing-scalability-tbt90042.html</a></p>

Pyth Price Feeds and Entropy launch on Sei V2, enhancing scalability

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