Source: Cointelegraph Original: "Web3 executives claim that high-speed Oracle Machines are disrupting the $50 billion financial data industry"

Michael James, the head of business development at Douro Labs - the company that developed the Pyth high-speed blockchain oracle network - told Cointelegraph that oracle networks like Pyth are disrupting the $50 billion financial data industry, which provides critical pricing information for exchanges, brokerages, trading firms, and other institutional entities.
In an interview at the 2025 Consensus conference, the executive stated that the Pyth network's data retrieval model distinguishes it from traditional pricing oracles, allowing clients to pay for data on demand and reducing the costs for institutions that depend on real-time market data.
According to Michael, the financial data industry is currently monopolized by about eight major suppliers, who continuously raise prices for their customers at will. He added:
The high cost of financial data stifles innovation and hinders small and medium-sized enterprises from participating in the global financial services industry, further concentrating the industry in the hands of a few large players and preventing the emergence of new use cases.
The Pyth oracle network provides real-time market data and price feeds for cryptocurrencies, stocks, foreign exchange markets (FOREX), commodities, and interest rates.
In December 2024, Pyth announced the launch of real-time oil price data on over 80 blockchain networks.
These real-time oil price feeds track the data of West Texas Intermediate (WTI) and Brent crude oil, aggregating data from multiple sources, paving the way for energy derivatives tools and energy trading on the blockchain.
Throughout the year 2024, the total value locked (TVS) of the Pyth network—a metric tracking the capital secured by the oracle network—grew 46 times.
According to DeFiLlama data, Pyth currently holds about 11.3% of the blockchain oracle market, up from approximately 10.8% reported in September 2024.
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