Kylin Network kylin.network
Kylin Network aims to Build a Cross-chain Platform Powering the Data Economy on Polkadot. It will be the Data Infrastructure for DeFi and Web 3.0 Powered by Polkadot. It offers any applications and blockchains (such as parachains and parathreads) instantaneous but reliable and valid on/off-chain market data and social data sources by leveraging the power of Polkadot/Substrate Framework.
- In a mature web 3.0 world, the number of data sources will be diverse and many, and will not be limited to price feeds alone Indeed, proper middleware will also have as its focus things such as stock price, twitter feeds, real-time election results. The need for an array of validated data resources has never been higher.
- Due to the previous lack of off-chain workers (OCW), many off-chain data cannot efficiently get connected to the blockchain. Substrate 2.0 framework provides OCWs as a default solution to integrate real-world data safely and securely onto the blockchain via oracles without the need to get opt-in by each validator - in other words, it’s a default unlocking of oracle validation across all of substrate.
- There are many weaknesses of Ethereum, especially high transaction cost and low scalability. Thus, implementation based on the cost-effective Polkadot network and its cross-chain interoperability is a better solution for the blockchain ecosystem.
- Kylin Network would also provide the means to integrate into OCW functionalities and (Dapp builders’ capabilities) what would be essentially tantamount to a single, easy-to-use request library.
The architecture of Kylin Network includes below main components:
- Kylin Data Analytics is a combination of analytic tools designed for data warehouses. It extracts meaningful data findings, patterns, interpretation, and finally implements low-cost commercialization functionalities for the public. It also provides a query engine and restful API for third-party applications (Dapps, Networks, etc.) or external analytics tools (BI tools, Machine Learning, etc).
- Kylin Data Oracle is an advanced decentralized data feeding protocol powered by Polkadot offering multiple, real-time data sources. With complementarity to and synergy with off-chain workers (OCW) as one kind of Oracle Node implementations, it can better guarantee the security and accuracy of external data by verifying the data integrity and the validity that Oracle Node provided.
- Kylin Data Marketplace is an open platform for data exchange and pricing. Dapps built on Polkadot can easily and efficiently collect both off-chain and on-chain data only paying a very competitive fee. Kylin seeks to extend the data provisional resources across all possible data types/sources including but not limited to things like social media posts, flight information, exchange rates, weather reporting, etc.
- Kylin Token $KYL is the native token of Kylin Network which will play the role of governance and other utilities. $KYL is necessary to secure and power the decentralized data network.
Polkadot ecosystem and the newly-updated Substrate 2.0 are essential to what Kylin Network is trying to achieve. Kylin Oracle will be connected to the Polkadot ecosystem acting as a parachain, sharing the Polkadot underlying consensus, and protected by the network performance of Polkadot and Substrate. Polkadot/Kusama is the important foundation, on which Kylin Network and its components are built.
The pallets that come with the Substrate 2.0 upgrade can offer Kylin Network the tools and maps to navigate through our vision, which is to build a decentralized oracle that offers on/off-chain data with built-in interoperability. Off-chain worker (OCW) is a substrate subsystem which can process off-chain data in an asynchronous way. It is a new feature in Substrate 2.0 that allows to integrate data onto the blockchain.
- Decentralized Insurance Automatic Payment
- Stable Coins and Crypto Derivatives
- Crypto Asset Lending Platform
- Cross-chain Decentralized Exchange
- Decentralized Casinos and Games
- Blockchain Computing Market
- Website: https://kylin.network/
- Twitter: https://twitter.com/Kylin_Network
- Medium: https://medium.com/@kylinNetwork
- Telegram: https://t.me/KylinOfficial
- Github: https://github.com/Kylin-Network