DeFi
DeFi Gets Boost in Asia as Pyth Price Fuels Land on 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 building on Kaia now have access to a constant stream of over 500 data feeds, enabling them to build cutting-edge DeFi applications that can handle information and transactions at exceptional speeds.
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 that 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 broader trend of advancements in the DeFi space. Following the merger that created Kaia, the platform is expected to integrate more than 420 DeFi applications and services, including major messaging applications 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 one-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 tapping 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, which is comparable to a multi-lane highway.
Additionally, Kaia offers significantly lower transaction fees than Ethereum, the current leader among blockchain platforms. This makes it a more economical option for developers and users. It’s a bit like paying less for gas when you use your car.
Finally, Kaia is designed to be developer-friendly. The platform guarantees equivalence with the Ethereum Virtual Machine (EVM), allowing developers familiar with Ethereum to easily switch to Kaia and leverage Pyth’s price feeds without having to learn a new development environment. It’s like switching from a different app on your phone that does essentially 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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