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In an exciting development that unfolded on Tuesday, Horizen Labs and Pyth Network announced a strategic partnership with a bold vision: to deliver decentralized Oracle services for EON, Horizen’s Ethereum Virtual Machine (EVM)-compatible smart contracting platform. This pioneering collaboration promises to usher in a new era of reliable and transparent market data on the blockchain, poised to empower EON’s ecosystem.

The heart of this partnership lies in the seamless integration of Pyth Network’s cutting-edge oracle solution into EON. The primary objective? To supercharge EON’s capabilities and arm developers with the essential market data they need to elevate the performance of their smart contracts. The ripple effect of this integration could potentially reach far and wide, extending into the realms of decentralized finance (DeFi), gaming, and non-fungible token (NFT) platforms.

EON, a brainchild of Horizen Labs, stands as an EVM-compatible smart contracting platform designed to provide developers with a versatile toolkit for constructing highly customizable blockchains. This toolkit includes everything from customizable consensus mechanisms and transaction processing speed to privacy features and crypto-economies.

By plugging into Pyth Network’s decentralized oracle services, EON gains access to a treasure trove of dependable market data. This newfound resource opens the doors to an array of DeFi integrations, fostering substantial growth within the ecosystem.

Pyth Network’s oracle system is a marvel in itself, utilizing the Wormhole messaging protocol to efficiently collect and distribute data across multiple blockchains with minimal latency. The significance of this low latency and robust market data cannot be overstated, especially in the context of developing financial products within the DeFi sector.

Pyth Network’s track record speaks volumes, having forged successful collaborations with industry giants like Binance, KuCoin, and OKX. The partnership with Horizen Labs marks yet another milestone in their journey towards revolutionizing the blockchain landscape.

Marc Tillement, the Director of Pyth Data Association, expressed his excitement about the integration of the Pyth oracle and its impressive 350 Price Feeds into Horizen EON. He emphasized the steady rise in adoption of zk solutions over the past year, hinting at the transformative potential this partnership holds for the entire blockchain ecosystem.