#Solana got another project!
One of the largest market maker companies in the world and the New York Stock Exchange announced that it has officially joined the Solana ( #SOL) based market data project.
🚩GTS Will Use Solana Network
Known as the market maker behind major IPOs on the NYSE, #GTS has joined the Solana network-based Pyth Network project. The Solana-based project is being developed under the leadership of the US-based high-speed trading firm Jump Trading.
It is known that the project, announced by Jump Trading in April, will process and distribute Wall Street's market data on the Solana blockchain network. Sam Bankman Fried, CEO of the #FTX cryptocurrency exchange, will also have important contributions in this regard. Sam Bankman-Fried recently announced that he was involved in the project and made a big splash.
🚩Market Maker of NYSE and Nasdaq Arrives in Solana
Market data is among the most critical elements for investors. The importance of these data on Wall Street is also very high. Trading firms have often criticized firms like the NYSE or Nasdaq for overinflating the price of market data. The crypto money market has started to experience similar situations, as it gradually began to fall under the influence of institutional investors. Pyth, on the other hand, can be used as a decentralized data center and marketplace that can be accessed over the Solana network. It is expected that this will not cause the problem of exchanges such as the NYSE and Nasdaq.
GTS also plans to prepare its own data on Pyth by creating a network node. GTS, which will perform real-time pricing on a high-performance blockchain network, may also break new ground in the crypto money industry.
🚩“Real-Time Blockchain Data”
GTS CEO and co-founder Ari Rubenstein emphasized that real data is indispensable for the maturation of DeFi applications and the development of the industry. Pyth Network, which GTS sees as an important step for pricing, will make real-time and public blockchain data available to everyone.
The reason why #Pyth #Network especially prefers Solana network may be its speed. The Solana network, which can process hundreds of thousands of transactions per second, actually allows transactions with much higher capacity with much cheaper transaction fees.