Oracles are all about bringing important data (mostly asset prices) onto the blockchain. As such, they’re a key part of decentralized finance. But oracle provider Pyth sees room for improvement as it relates to being more real-time than crypto incumbents like Chainlink. Mike Cahill, the CEO of a brand new Pyth-linked firm called Douro Labs, joins the show to explain the opportunity he sees in building better oracles.
- how Pyth Network works and what the upcoming Perseus upgrade consists of
- Mike’s background in traditional finance
- why oracles are necessary in crypto and what the challenges are for oracle providers
- whether it’s hard for traditional institutions to participate in crypto protocols
- what the four types of oracle solutions are and how they differ
- how Pyth determines which data providers are allowed in the network and how that will change if it becomes more decentralized
- why Mike compares the scalability of Pyth to how Facebook grew
- why Douro Labs is being launched and why it will be solely focused on Pyth for now
- the factors driving Pyth’s growth, according to Mike
- Mike’s opinion on the current state of the crypto market and what the endgame is for Pyth
Thank you to our sponsors!
- Mike Cahill, CEO at Douro Labs
- What’s the Difference Between Pyth and Legacy Oracles