The development history of the cryptocurrency market shows distinct characteristics of investors entering at different periods. In 2018, entrants were more concerned with the long-term vision of projects, development processes, and underlying logic, as well as potential profitability. In contrast, new entrants in 2021 were more focused on the short-term speculation of tokens, such as finding the next buyer and chasing market sentiment. Investors who joined in the past two years have focused their attention on the actions of project parties, such as whether there are actions to suppress prices or tendencies to artificially pump the market.

This change reflects the maturation process of the market and highlights the importance of infrastructure projects like Pyth Network. As an experienced market participant, I believe Pyth Network has made significant contributions in addressing real-world issues:

First, Pyth Network has improved data quality and update speed. Unlike traditional oracles that aggregate data through third-party APIs, Pyth obtains first-hand data directly from top market makers and exchanges, effectively reducing latency and single point of failure risks. This approach fundamentally guarantees the accuracy and timeliness of data, meeting the stringent requirements of decentralized finance (DeFi) applications.

Secondly, Pyth Network achieves millisecond-level data updates, far exceeding the typical 10-30 second update cycles of other oracles. This feature provides the necessary technical support for complex financial products such as high-frequency trading, perpetual contracts, and options, giving DeFi a competitive edge over centralized finance (CeFi).

Finally, Pyth Network has solved the interoperability issue of multi-chain ecosystems. Currently, it supports over 70 blockchain networks, effectively becoming the data infrastructure for the entire encryption world. This extensive compatibility provides great convenience for developers, allowing them to easily access high-quality data services regardless of which chain they choose to build their applications on.

The innovations of Pyth Network not only drive technological advancements in the encryption market but also lay the foundation for the long-term healthy development of the entire industry. As the market continues to evolve, projects like Pyth that focus on solving real-world problems will play an increasingly important role in shaping the future of cryptocurrency.