Pyth flips Chainlink in 30-day volume, Chronicle CEO weighs in
Pyth Network has surpassed Chainlink in 30-day transaction volume despite having a lower total value secured (TVS). This shift can be attributed to Pyth’s pull-based Oracle model, which optimizes for high-frequency applications by providing data only upon request. Chronicle's CEO, Niklas Kunkel, noted that three key players—Chronicle, Pyth, and Redstone—are challenging Chainlink’s dominance in the Oracle space. Kunkel emphasized the importance of innovation in Oracle technology, pointing out that the traditional push model has become less efficient for applications requiring fast data updates. Pyth's transaction volume reached $36 billion in the past 30 days, indicating a strong demand for Oracles capable of supporting high-frequency applications. While Chainlink remains a significant player, particularly in terms of secured assets, Kunkel highlighted its lag in innovations like scalable validator sets and data transparency. The evolving landscape suggests that institutions will increasingly view Oracle partnerships as crucial for risk management, favoring providers with strong security and transparency records.
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