On the Helium L1, the Price Oracle is the only existing Oracle on the Helium Network. It is required on-chain as the price of HNT is needed to calculate HNT to burn when minting Data Credits (DC).
Post Migration Implementation
With the migration to the Solana L1, the Helium Network takes advantage of the larger Solana ecosystem.
The Helium Network on Solana uses the tried and tested Pyth Network, which publishes financial market data.
At an overview, Pyth works by having publishers (exchanges and market makings firms) submit price points for given coin pair values and then aggregates this data and makes it available on-chain.
Pyth's exponentially-weighted moving average (EMA) price aggregation adds time to the aggregation with a heavier weight given to more recent price samples, smoothing the price and controlling for outliers and further increases trust in the price and helps shield against potential bad actors.
An out-of-the-box Price Oracle solution means fewer developer requirements for the Helium core developers and ensures more reliable service.