Horizen Partners with Pyth Network to Enhance Decentralized Oracle Services for EON

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In a groundbreaking collaboration, Horizen, the pioneer in blockchain innovation, has joined forces with Pyth Network, a specialized oracle solution, to usher in a new era of decentralized oracle services for EON, Horizen’s EVM-compatible smart contracting platform. This partnership aims to inject precise and trusted on-chain market data into EON, empowering developers to elevate their smart contract capabilities and broaden the horizons of DeFi, gaming, and NFT applications.

Empowering EON with Pyth Network’s Oracle Solutions

Horizen‘s EON has emerged as a game-changing EVM-compatible smart contracting platform, granting developers the unprecedented ability to construct tailor-made blockchains with flexibility in consensus mechanisms, transaction speed, privacy features, and crypto-economic structures. By integrating Pyth Network’s decentralized oracle services, EON will gain seamless access to reliable market data, thereby unlocking a myriad of possibilities for DeFi integrations and expanding its ever-evolving ecosystem.

Rob Viglione, Co-Founder of Horizen and CEO of Horizen Labs, commented on this monumental partnership, saying, “Partnering with Pyth Network aligns with our mission to provide a secure and scalable ecosystem for decentralized applications. By leveraging Pyth Network’s specialized oracle solution, we can enhance EON’s capabilities and offer developers the trusted market data they need to build innovative solutions for DeFi protocols.”

The Pyth Network Advantage

Pyth Network‘s oracle solution employs the Wormhole messaging protocol, delivering aggregated data at sub-second speeds, making it instantly accessible across various blockchains. The network boasts low latency and robust market data, vital for the development of financial products within the DeFi space. Pyth Network has forged strategic partnerships with industry giants like Binance, KuCoin, and OKX, solidifying its position as a prominent player in the oracle arena.

Marc Tillement, Director of Pyth Data Association, expressed his excitement about the collaboration, stating, “We’re excited to see the Pyth oracle and its 350 Price Feeds going live on Horizen EON — over the past year, zk solutions have been steadily growing in adoption and enabling DeFi to happen there is of first order. As the leading oracle network on various Ethereum L2s and zk-chains, we look forward to seeing EON developers grasp the opportunity to be #PoweredByPyth and build the future of finance on-chain.”

EON’s Expanding Ecosystem

Currently, Horizen’s EON Alpha is live on the mainnet, as well as its permanent public testnet, Gobi, bolstered by an array of products, integrations, and tools, including Pyth Network. With this collaborative effort between Horizen and Pyth Network, the EON ecosystem is poised to welcome a myriad of decentralized applications and services in the coming months.

The integration of EON’s compatibility with the Ethereum Virtual Machine (EVM), Horizen’s prowess in zero-knowledge cross-chain transactions, and Pyth Network’s decentralized oracle services promise to establish a customizable, permissionless, and interoperable blockchain environment. This environment caters to the diverse needs of developers and end-users alike, providing a fertile ground for innovation in the blockchain space.

A Game-Changer for DeFi

Horizen is a layer 0 public blockchain that serves as the foundation for a network of zero-knowledge blockchains. It boasts the largest node system and a massively scalable cross-chain protocol called Zendoo. Developers have access to unparalleled tools to create private or public blockchains and decentralized applications, with unmatched flexibility. Through its EVM-compatible sidechain, EON, developers on Horizen can tailor their blockchains in terms of consensus mechanisms, transaction speed, privacy features, and crypto-economic models, all while preserving the core tenets of decentralization.

Pyth Network is a unique oracle solution meticulously designed to manage latency-critical financial data, a domain traditionally dominated by centralized entities. Operating one of the most extensive and reliable oracle networks, Pyth Network aggregates price data from over 90 leading institutions in both cryptocurrency and traditional finance sectors.

Leveraging the Wormhole messaging protocol, Pyth Network delivers lightning-fast data accumulation and broadcasting capabilities, enabling data accessibility across more than 30 blockchains. It operates on its own application-specific blockchain: Pythnet, providing credible and verifiable market data to decentralized applications.

Overall, the collaboration between Horizen and Pyth Network holds immense promise for the blockchain industry and the burgeoning world of decentralized finance. By integrating Pyth Network’s cutting-edge decentralized oracle services into EON, both developers and end-users stand to benefit significantly. This paves the way for more sophisticated and secure decentralized applications, expanding the horizons of possibilities in multiple areas. As a result, the DeFi ecosystem on EON is poised for rapid growth and evolution.