TechFlow News, on March 19, Mike Cahill, CEO of Douro Labs—the development company behind Pyth Network—and contributor to Pyth Network, delivered a keynote speech at the Digital Asset Summit in New York, unveiling Pyth Network's brand evolution from a technical oracle infrastructure to a "universal global pricing layer." Cahill stated: today’s financial system has collapsed. Traditional market data is manipulated, fragmented, opaque, and accessible only to a select few, which hinders broader participation and suppresses innovation.
To address this critical pain point, Pyth Network aims to bring all prices on-chain, offering advantages such as decentralization, timeliness, accuracy, security, transparency, and low cost. This will establish a universal global pricing layer that anyone can easily access anytime, anywhere—delivering high-quality services to the world’s $34 trillion financial services market and becoming a key force in driving transformation of the global financial system.
Under Pyth Network’s new vision, PYTH token holders will play a crucial role in owning, protecting, and guiding the network’s future, ultimately sharing in its realized value. Currently, Pyth Network supports over 120 blockchains and provides more than 1,200 real-time price feeds, with over 500 applications already utilizing Pyth. Moving forward, Pyth will continue expanding market data coverage relentlessly toward its goal of bringing all prices on-chain.
