U.S. Department of Commerce Adopts Pyth Network for Onchain GDP Data

The PYTH Network, alongside Chainlink, has been selected by the U.S. Department of Commerce to publish real gross domestic product (GDP) data on the blockchain. This marks the first time a U.S. federal agency will distribute economic statistics onchain, beginning with July 2025 GDP figures.

Oracles like Pyth solve a critical blockchain limitation—accessing off-chain data—by securely bridging external data sources to smart contracts. The decentralized nature of blockchain eliminates the need for user trust, as data is verified through global consensus.

Mike Cahill, CEO of Douro Labs and an initial Pyth contributor, emphasized the significance of this move. "This is the U.S. government's first endorsement of permissionless chains," he noted. Onchain economic data enables programmable use in smart contracts and modernizes government data collection processes.

Pyth spent two months developing its GDP publishing mechanism. Cahill confirmed ongoing development efforts to expand the network's capabilities.