Pyth x Wormhole
- Pyth Network will go cross-chain via Wormhole
- Oracle prices are expected to go live on Ethereum and Terra shortly after mainnet launch
- Solana is the home base for Pyth, where heavy computation and aggregation take place
We believe that exciting innovation exists across the entire public blockchain space and aim for the Pyth Network to be a key part of the infrastructure upon which applications across the global blockchain ecosystem are built.
In a previous blog post, we laid out a few of the reasons why we chose Solana as the foundation of the Pyth Network. Namely, Solana enables low latency to leverage high-speed price updates and the throughput required to process the inputs intelligently to produce an aggregate price. The Solana community has also intelligently invested in cross-chain bridges to developed and budding ecosystems through Wormhole. The ~400ms block time serves as the lowest common denominator across major public blockchains in that dimension and gives us the privilege of being able to disseminate prices to other chains at their native block speed.
Wormhole is a decentralized attestation engine that leverages its network of guardians to trustlessly bridge information between the chains it supports. Wormhole has a simple, elegant, and pragmatic design that has enabled it to be the first real solution to ship to market and has received wide recognition and support from its member chains.
The Wormhole guardians have chosen the first three chains in the network to be Solana, Terra, and Ethereum.
Ethereum has the lion’s share of developer mindshare, and the most mature applications and assets. We’re excited to get plugged in and provide solutions that support that large ecosystem. Wormhole is also readily extendable to any other EVM-based chain, so as the Ethereum world expands into L2 scaling solutions, we’ll be ready to get Pyth prices there at the get-go.
Terra is one of the fastest growing and most promising blockchains with an ever-growing developer community. It’s taking up an increasingly large mindshare among the top thinkers in the space and has an excellent team and leadership driving the ecosystem forward. We’re incredibly excited to bring Pyth prices to Terra and are keen to see developers express their creativity on the platform. As IBC grows into adoption, we will look to expand into other Cosmos-based chains either through Terra or onto other individual chains
As Wormhole continues to connect the highest value chains across the space, Pyth prices will become increasingly more available to application developers across blockchain environments. Here is the outstanding issue list that the Wormhole team is currently working through to support this functionality.