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While the volatile process in cryptocurrency markets remains on the agenda, significant developments are happening in the blockchain field. Accordingly, The Open Network (TON), a decentralized blockchain platform, and Pyth Network, a decentralized data platform, announced a partnership to provide high-accuracy data to developers within the TON ecosystem.
What’s Happening on the TON Front?
According to the shared information, this collaboration focuses on integrating Pyth’s data streams to help developers within the TON ecosystem truly stand out with their applications. Pyth’s Oracle technology is designed to provide real-time institutional-grade price data necessary for creating decentralized applications (DApps) within the TON ecosystem.
In an interview on the subject, Douro Labs CEO and key contributor to Pyth, Michael Cahill, stated that the price streams are secured with multiple layers of protection and shared the following:
“These measures are implemented to give TON developers and all other supported ecosystems the confidence to create the latest technology DeFi that can potentially serve millions of users.”
Details on the Subject
On August 9, IntoTheBlock, a provider of on-chain analytics and DeFi services, integrated the TON ecosystem into its analytics platform. This development allows the TON community to access ITB’s advanced analytics data for free to better understand trends and on-chain information within the TON blockchain ecosystem.
The integration also aims to increase user engagement on the blockchain platform and help enhance network transparency through deeper insights into the TON ecosystem. On June 21, Pyth partnered with DeFi-focused development teams Morpho and Gauntlet to improve lending and borrowing experiences on the Ethereum and Base blockchain networks. The partnership aims to offer more secure and efficient lending protocols using Pyth’s low-latency price data.
