Crypto/Finance
Chainlink and Pyth to Provide U.S. Economic Data on Blockchain
Chainlink's LINK and Pyth's token have seen significant price increases following an announcement regarding the delivery of official macroeconomic data from the U.S. Department of Commerce on blockchain technology.
1 min read
Summary
Chainlink’s LINK token has increased by over 5%, while Pyth’s token jumped almost 50% after the announcement of their partnership with the U.S. Department of Commerce to deliver on-chain government economic data. This includes crucial statistics like GDP and the PCE Price Index, now accessible through Chainlink Data Feeds on ten blockchain networks.
Key Points
- Chainlink and Pyth team up with the U.S. Department of Commerce.
- Users can access vital economic data on blockchain platforms.
- This initiative is expected to spur new blockchain applications like DeFi protocols linked to economic trends.
By making U.S. government data available on the blockchain, the initiative aims to introduce innovative use cases and higher transparency.
