TON Blockchain Teams Up with Pyth Network for Enhanced Data Delivery

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Ruholamin Haqshanas

Author

Ruholamin Haqshanas

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Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto…

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Last updated:

August 13, 2024 23:35 EDT

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The Open Network (TON) has announced a partnership with decentralized data oracle Pyth Network to enhance data delivery for developers building on the TON blockchain.

The collaboration aims to integrate Pyth’s advanced oracle data feeds, providing TON developers with the tools they need to create innovative decentralized applications (DApps).

Pyth’s pull oracle technology is particularly notable for its ability to deliver real-time, institutional-quality price data, a crucial component for building robust decentralized finance (DeFi) applications on TON.

Security of Pyth’s Price Feeds

It is worth noting that Pyth’s price feeds enjoy enhanced security and reliability.

For one, multiple layers of protection are in place to ensure that TON developers.

Moreover, those in other ecosystems supported by Pyth can confidently build DeFi solutions capable of serving millions of users.

The partnership is expected to significantly impact various aspects of the TON ecosystem, particularly in the realm of DeFi.

With Pyth’s high-fidelity, real-time pricing data, TON projects will be able to offer enhanced financial services, supported by the platform’s lightning-fast transaction speeds.

The collaboration will bolster TON’s ongoing efforts to attract and onboard users to the blockchain, leveraging Pyth’s low-latency data capabilities to improve the overall user experience.

In addition to this partnership, TON recently integrated with IntoTheBlock (ITB), an onchain analytics and DeFi services provider.

This integration allows the TON community to access advanced analytical data at no cost, offering deeper insights into the blockchain’s ecosystem and fostering greater transparency and user engagement.

Pyth has also extended its expertise to other blockchain networks, partnering with DeFi-focused teams like Morpho and Gauntlet on Ethereum and Base blockchains to enhance lending and borrowing experiences.

Telegram Launches Digital Payment Feature

Back in June, Telegram launched a new digital payment feature dubbed “Telegram Stars,” allowing users to make in-app purchases.

The ‘Stars’ is compatible with both iOS and Android devices.

The move comes with the recent surge in Telegram’s mini apps with millions of users joining every day.

One of the mini apps that have been gaining traction recently, mostly on Telegram is Hamster Kombat.

In this simulator game, players can increase their exchange income by buying “upgrade cards,” and completing quests.

Earlier in the month, Hamster Kombat announced gaining millions of subscribers and becoming the No.1 channel on Telegram in terms of users.

More recently, Pixelverse, a Web3 Telegram-based gaming ecosystem, raised $5.5 million in a recent capital raise.

The funding round saw participation from top investors in the crypto and Web3 gaming space, including Delphi Ventures, Merit Circle, and Mechanism Capital.