Pyth Explainer: Introducing Pyth's Infrastructure Providers
We are delighted to announce that Syndica has joined P2P, Everstake, Figment, Triton, Coinbase Cloud, and Blockdaemon to offer infrastructure support to the Pyth network. As a result, the Pyth network will be able to leverage the largest and most trusted infrastructure platforms to support data provider activities and other participants’ actions in the network.
Why Does Infrastructure Matter?
Data providers in the Pyth network need dedicated infrastructure to maintain a high-frequency update (on par with Solana speed). To generate ~10 million price updates daily (200k per asset), the Pyth network publishers initiate about 100 million Solana transactions every day. These updates are published by first-party data providers such as Alameda Research, Chicago Trading Company, CMS, CoinShares, Cumberland DRW, FTX, Galaxy Digital, Genesis Global Trading, Jane Street, IEX Cloud, Jump Trading, Wintermute, and many more.
In addition to aiming for peak performance, leveraging a multitude of highly-skilled infrastructure providers enables bolstering of the reliability of the Pyth network in all circumstances. If Pyth publishers were to all rely on a single node provider, any defect originating from it would negatively impact the whole network and the applications that depend on it. In today’s environment, a single defective infrastructure provider would affect the publishers relying on its services. However, all the others would still be able to operate and continue offering HiFi data to anyone. As of today, there are 55 publishers spread around seven infrastructure providers.
“As more publishers and developers are entering the Pyth network ecosystem, ensuring that there is a simple and secure way for them to participate is mission-critical. Infrastructure partners fluent across different protocols will also be key to Pyth’s expansion strategy,” said Mike Cahill, Director of Pyth Data Association.
Who are the Pyth Infrastructure Providers?
- Blockdaemon is the leading blockchain node infrastructure to stake, scale, and deploy nodes with institutional-grade security and monitoring.
- Supporting 50+ cutting edge blockchain networks in the cloud and on bare metal servers globally, Blockdaemon is used by exchanges, custodians, crypto platforms, financial institutions, and developers to connect commercial stakeholders to blockchains.
- Coinbase Cloud offers Web3 APIs, services, and blockchain infrastructure to power the next generation of software builders.
- Coinbase Cloud’s suite of solutions covers a breadth of key crypto primitives, including data access, staking, payments, trade and exchange, identity, etc.
- Everstake is the biggest decentralized staking provider in the blockchain industry, trusted by 625,000 users.
- We have used enterprise-level hardware to run nodes for the most popular PoS blockchains since 2018.
“The first step in creating a completely decentralized, self-sustainable data marketplace is ensuring that participants have an easy way to participate in the network,” said Sergey Vasylchuk, CEO of Everstake. “Pyth has been instrumental to the growth of Solana’s DeFi ecosystem, and now, with wide support across the best infrastructure partners in the industry, bringing its first-party data oracle to other blockchains isn’t a matter of how, but when.”
- Figment’s mission is to support the adoption, growth, and long-term success of Web 3 — the next generation of the Internet.
- Headquartered in Toronto, Figment is a remote-first company with employees in over 23 countries worldwide.
“Oracles are an essential part of the Web 3 stack, and Pyth has created one of the most active data ecosystems in the industry. Figment is dedicated to supporting the ecosystem’s growth by providing best-in-class infrastructure for publishers and unique indexers for consumers and has streamlined the onboarding process for developers with its Pyth education pathway. We are excited about Pyth’s progress and its multi-chain deployment to power, even more, DApps across Web 3,” said Yannick Folla, Head of DataHub at Figment.
- P2P is a world-leading non-custodial staking provider with the best industry practices, proven expertise, and more than $4B in value is staked.
- P2P maintains high-availability nodes and provides a secure infrastructure for the most groundbreaking projects in the blockchain space.
We are excited by Pyth’s progress toward a self-sufficient decentralized oracle network. Our close cooperation will bring world-class infrastructure and help publishers deliver high-quality financial market data. Pyth’s vision is in line with our mission to help people access the emerging data-driven economy," said Pavel Pavlov, Head of Solana Ecosystem of P2P.
- Syndica is building the next generation of developer infrastructure for Web3.
- Syndica offers a highly scalable RPC node infrastructure with advanced logging and analytics.
“Pyth underpin the vibrancy of the Solana ecosystem. We’re pleased to play a part in helping Pyth continue to provide on-chain price feeds that power exchange and much more on Solana. Syndica supports this mission by providing world-class infrastructure with advanced logging and analytics to Pyth price publishers. We look forward to working closely with the Pyth team to support our shared vision for a decentralized future,” said Ahmad Abbasi, Founder of Syndica.
- Triton One provides RPC Pool and Guardian infrastructure services for Solana and other blockchain projects.
- Triton One runs a large-scale Solana RPC deployment with 100 nodes across public and private pools geographically distributed worldwide with servers in the US, EU, and the Asia Pacific.
We look forward to further coordinating with excellent partners to establish a digital marketplace of institutional grade, high-fidelity financial data and power any financial dApps regardless of their blockchain base.
Pyth network is a first-party financial oracle network designed to publish continuous real-world data on-chain in a tamper-resistant, decentralized, and self-sustainable environment. As of March 2022, about $2 billion of value was secured by Pyth price feeds.
We can’t wait to hear what you think! You can join the Pyth Discord and Telegram, follow us on Twitter, and be the first to hear about what’s new in the Pyth ecosystem through our newsletter. You can also learn more about Pyth here.
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