Pyth Network’s Sei V2 has revolutionized blockchain tech with Pyth Price Feeds and Entropy.
Pyth Network has made a significant contribution to blockchain technology development by introducing Pyth Price Feeds and Entropy with Sei V2.
A parallelized Ethereum Virtual Machine (EVM) with over 500 real-time price feeds and a dependable on-chain random number generator is now available to developers on Sei V2, thanks to this new development.
These characteristics will enhance the scalability and flexibility of Decentralized Finance (DeFi) apps. The architecture of Sei V2 aims to significantly enhance the development experience.
Sei V2 Enhances Parallelized EVM Blockchain
It enables the deployment of pre-existing Ethereum (ETH) applications without requiring any adjustments, hence providing a smooth transition to an environment that is more robust.
Furthermore, the platform asserts that it is capable of delivering a performance boost that is up to one hundred times greater than that of conventional EVMs.
This improvement is essential because it satisfies the greater requirements of the blockchain applications that are already in use, such as those in trading environments that involve high-frequency trading and decentralized finance.
The fact that Sei V2 continues to support CosmWasm is another factor contributing to the product’s adaptability and popularity. This compatibility is essential for developers who are searching for a platform that is capable of managing complicated activities and providing additional functionality without sacrificing speed or efficiency.
Applications that rely on accurate and timely data, such as trading platforms and financial analytics tools, require this information in order to function properly. The Pyth Network uses a pull-oracle design.
This architecture enables applications to make requests for the data they require on an as-needed basis, which in turn optimizes the utilization of resources and reduces costs.
SEI Token Climbs 8% with New Updates
In addition to price feeds, the advent of Entropy by Pyth Network provides a trustworthy and safe source of on-chain randomization for the table. This functionality is absolutely necessary for the development of applications that demand unpredictability, such as gambling, lotteries, and prediction markets.
Through the provision of outcomes that are both fair and surprising, Entropy contributes to the enhancement of trust and user engagement in these applications.
Immediately after the introduction of these new features, the value of SEI, which is Sei’s native token, experienced a considerable increase, rising by more than 8% to reach a trading value of $0.5752.
In addition, the market capitalization increased by around 5.52%, reaching a total of $1,683,533,322. The increase in trading volume, which was 56.90% higher than before, reflects the strong sentiment in the market in the upcoming hours.