Oracles: Does the Backbone of DeFi Need Fixing? - Ep. 537

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. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: 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! Crypto.com Arbitrum Foundation TOKEN2049 Guest: Mike Cahill, CEO at Douro Labs. Links What’s the Difference Between Pyth and Legacy Oracles Unchained:  What Are Blockchain Oracles? Learn more about your ad choices. Visit megaphone.fm/adchoices