DeFi
DeFi gets a boost in Asia as Pyth price hits Kaia
Pyth Price Feeds has been successfully integrated into Kaia, a newly optimized public blockchain based on BFT. This integration follows the merger between Klaytn and Finschia under the banner of “Project Dragon”, positioning Kaia as a major player in the emerging Web3 ecosystem in Asia.
Pyth price feeds are renowned for their accuracy and ability to provide real-time data on everything from digital currencies to stocks and bonds. With this integration, developers leveraging Kaia now have access to a constant stream of data feeds exceeding 500, enabling them to build cutting-edge DeFi applications capable of managing information and transactions at exceptional speed.
Experts believe that this integration will be a major catalyst for the development of a robust and reliable DeFi ecosystem on Kaia. Real-time access to accurate market data is essential for building reliable and scalable DeFi applications, ensuring Kaia can support a high volume of financial transactions.
Dr. Sam Seo, Representative Director of the Klaytn Foundation commented“Python’s high-performance, expansive, and granular price feeds will be a key enabler in creating a vibrant and diverse DeFi ecosystem, while also opening up greater creative possibilities for builders to innovate on Kaia.”
The launch of Pyth Price Feeds on Kaia is part of a larger trend of advancements in the DeFi space. Following the merger that created Kaia, the platform is expected to integrate over 420 DeFi applications and services, including leading messaging apps Kakao and LINE. This opens the door to a potential user base of 250 million across Asia.
The integration offers several benefits that make it easier and faster for developers to build DeFi applications on Kaia, thanks to its 1-second block generation with immediate finality. This is significantly faster than traditional financial systems and even other blockchain platforms. Imagine sending money on Kaia – it’s like using your credit card.
Another advantage of Kaia is its scalability. The platform can handle a high volume of transactions at a time, making it ideal for busy DeFi applications. This is made possible by Kaia’s ability to process up to 4,000 transactions per second, comparable to a multi-lane highway.
Additionally, Kaia benefits from significantly lower transaction fees than Ethereum, the current leader in blockchain platforms. This makes it a more cost-effective option for developers and users alike. Think of it like paying less for gas when you use your car.
Finally, Kaia is designed to be developer friendly. The platform guarantees Ethereum Virtual Machine (EVM) equivalence, allowing developers familiar with Ethereum to easily move to Kaia and leverage Pyth’s price feeds without needing to learn a new development environment. It’s like switching between two different apps on your phone that essentially do the same thing.
With the deployment of Pyth Price Feeds, Kaia is well positioned to expand its on-chain capabilities and support the development of a vibrant DeFi ecosystem. The collaboration between Pyth Network and Kaia is expected to drive innovation and adoption in the blockchain space.
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