Oracles: Does the Backbone of DeFi Need Fixing? - Ep. 537

Unchained

Laura Shin

News, Tech News, Business News

4.6 • 1.3K Ratings

🗓️ 29 August 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Oracles are all about bringing important data (mostly asset prices) onto the blockchain. As such, they’re a key part of decentralized finance. But oracle provider Pyth sees room for improvement as it relates to being more real-time than crypto incumbents like Chainlink. Mike Cahill, the CEO of a brand new Pyth-linked firm called Douro Labs, joins the show to explain the opportunity he sees in building better oracles. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: how Pyth Network works and what the upcoming Perseus upgrade consists of Mike’s background in traditional finance why oracles are necessary in crypto and what the challenges are for oracle providers whether it’s hard for traditional institutions to participate in crypto protocols what the four types of oracle solutions are and how they differ how Pyth determines which data providers are allowed in the network and how that will change if it becomes more decentralized why Mike compares the scalability of Pyth to how Facebook grew why Douro Labs is being launched and why it will be solely focused on Pyth for now the factors driving Pyth’s growth, according to Mike Mike’s opinion on the current state of the crypto market and what the endgame is for Pyth Thank you to our sponsors! Crypto.com Arbitrum Foundation TOKEN2049 Guest: Mike Cahill, CEO at Douro Labs. Links What’s the Difference Between Pyth and Legacy Oracles Unchained: What Are Blockchain Oracles? Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	So, the vision that we have for Pith is that all the world's financial data should go through Pith to be brought onto blockchains in a way similar to all the world's music going through Spotify.
0:14.0	Hi, everyone. Welcome to Unchained, your no-hype resource for all things crypto. I'm your host, Laura Shin, author of The Crypto Pins.
0:22.0	I started covering crypto eight years ago, and as a senior editor at Forbes, was the first mainstream media reporter to cover cryptocurrency full-time.
0:29.0	This is the August 29th, 2023 episode of Unchained.
0:33.0	Arbitrum's leading layer to scaling solutions can provide you with lightning fast transactions at a fraction of the cost, all while ensuring security rooted on Ethereum.
0:42.0	Arbitrum's newest addition, Orbit, enables you to build your own tailor-made layer three.
0:47.0	Visit Arbitrum.io today.
0:50.0	At token 2049 Singapore on September 13th to 14th, Bology Sweeney Vossen, Tyler and Cameron Winklevoss are their haze, and 200 others will hit the stage joining over 10,000 attendees.
1:01.0	Visit token2049.com for 65% off regular ticket prices with the code Unchained. Link in the description.
1:09.0	Buy, trade, and spend crypto on the Crypto.com app. New users can enjoy zero credit card fees on crypto purchases in the first seven days.
1:18.0	Download the Crypto.com app and get $25 with the code Laura. Link in the description.
1:25.0	This episode is brought to you by Kraken Pro. Good trades travel fast. Meet Kraken Pro, a powerful crypto trading platform built for lightning fast trades, with real-time analytics and more.
1:37.0	Head to pro.kraken.com and trade like a pro. Crypto currencies are unregulated in the UK.
1:43.0	Prophes may be subject to capsule gains tax and the value of cryptocurrencies can go down or up.
1:48.0	This episode is brought to you by Royal London, the UK's largest mutual, life, pensions, and investment company.
1:56.0	What even is a mutual anywhere? Well, Royal London is customer owned. It has been since 1861.
2:03.0	They work to support customers and wider society, to help build financial resilience, while investing responsibly, to help build a future worth return into.
2:12.0	It really is everyone's business. Learn more at RoyalLondon.com slash mutuality.
2:19.0	Today's guest is Mike Cahill, CEO at Dora Labs. Welcome, Mike.
2:24.0	Thanks so much, Laura. Excited to be here.
2:27.0	You're a long time Pith contributor and today you have some news about new developments in that ecosystem.
2:32.0	But why don't we just start with your background? Tell us about Pith, what it is, and what problem it's been trying to solve.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Laura Shin, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Laura Shin and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.