Pyth Network has successfully launched its oracle service on IOTA EVM, significantly improving the security and accuracy of data on the IOTA ecosystem. This integration provides a reliable infrastructure for users, enhancing their experience on both platforms. The Pyth Network's oracle service sources price data from top institutions and decentralized players, providing real-time updates that are critical for smart contract applications.

The launch of Pyth's oracle service on IOTA EVM marks a significant milestone in Pyth Network's mission to bring real-time market data to blockchains securely. IOTA EVM, a fully EVM-compatible Layer 2 solution for the IOTA network, offers a scalable, fee-less, and permissionless distributed ledger for secure financial exchanges. The integration enhances data reliability and security, equipping developers with the critical tools needed to innovate and build the digital economy of the future.

Pyth Network's oracle service provides over 500 real-time price feeds for various assets, including equities, cryptocurrencies, commodities, exchange-traded funds, and Forex pairs. This service sources price data from first-party institutional and decentralized market participants, providing smart contract developers on IOTA EVM with accurate and reliable data. Several decentralized finance applications on IOTA EVM are already utilizing Pyth's price feeds, including Deepr Finance and Virtue Money.

The deployment of Pyth's oracle service on IOTA EVM is crucial for achieving IOTA's goals, providing reliable price data for real-world and traditional assets to secure their exchange and value transfer. IOTA's distributed ledger technology enables secure on-chain value and data exchange without fees, making it an attractive solution for new business models focusing on tokenization and real-world assets. With Pyth Network's oracle service, IOTA EVM can offer tamper-proof data, fee-less transactions, and low resource requirements, fostering innovation and growth in the digital economy.

In summary, Pyth Network's launch of its oracle service on IOTA EVM is a significant development that enhances data security and accuracy on the IOTA ecosystem. This integration provides a reliable infrastructure for users, promoting innovation and growth in the digital economy. With Pyth Network's oracle service, IOTA EVM can offer secure, accurate, and reliable data, making it an attractive solution for developers and users alike.