The Data Infrastructure for DeFi and Web 3.0 Powered by Polkadot
KYL Official ERC-20 Contract is 0x67B6D479c7bB412C54e03dCA8E1Bc6740ce6b99C
The Data Infrastructure for DeFi and Web 3.0 Powered by Polkadot
Technical
ArchitectureKylin Network 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 on open networks.
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Kylin Oracle is an advanced decentralized data feeding protocol powered by Polkadot/Substrate offering multiple, real-time data sources with the complementarity and synergy to off-chain workers.
Data consumers may represent smart contracts, APIs, blockchains, protocols, applications or any data repository.
Data Warehouse in Kylin Protocol is a decentralised on-chain repository of integrated data from one or more disparate data sources such as Oracle Nodes and the Arbitration Nodes.
Oracle Node handles all the data requests such as social data and market data from separate off-chain data sources, and signing the transactions of the Kylin parachain.
Arbitration Node guarantees the security and accuracy of external data by verifying the data integrity and the validity that Oracle Node provided.
The bottom layer of Kylin Oracle is mainly built on a specialized blockchain network established by Substrate.
Economics
The Kylin Network Mainnet token KYL is necessary to secure and power the decentralized data network. The use-cases and utility of KYL include but not limited to:
All miners are required to stake KYL with a higher stake equating in a high probability of being selected to fulfill data requests.
KYL tokens will be used to pay as a transaction, query fee, and also for data access behind paywall (private APIs).
KYL Token holders are able to vote for the protocol upgrades and parameter changes on Kylin Network.
Scenarios
Through the Kylin Network to obtain timely and reliable events outside the insured chain, blockchain-based decentralized insurance can realize automatic payment of insurance such as flight delay insurance.
Stablecoins and encrypted derivatives need to frequently obtain off-chain real-time price data. Kylin Network can obtain reliable data in multiple scenarios in real time and efficiently.
Kylin Network can provide real-time and reliable currency prices and borrower’s social media information, providing strong support for the dynamic determination of loan interest rates.
The lightweight Kylin Network interface that can be deployed on multiple chains provides the possibility for decentralized exchanges to realize cross-chain atomic transactions.
On-chain decentralized casinos and games often require safe and reliable random injection. Kylin Network random number engine provides unpredictable and verifiable random number generation.
Commercial computing such as machine learning training models and 3D rendering needs to complete a variety of complex computing tasks. The off-chain computing market provides verifiable and unlimited off-chain computing capabilities.
Kylin DAO is aiming to provide tools to facilitate technology development, voting and governance.
KYL Stakeholders will assume a central role in suggesting and determining the priorities of Kylin Network through the Governance Committee, whilst the Board will act as guarantor that the Kylin Network principles of privacy with accountability and the Public Deed of the Kylin Network Project are adhered to.
DAO
Copyright: 2021 The Kylin Project. All Rights Reserved
All the information on this website or other official channels is published for information purposes only and is only intended for institutional investors and sophisticated individual investors. Any services to be provided in the future will be subject to the terms of the legal agreements relating thereto. Nothing on this Site should be interpreted as the investment endorsement by Kylin Network or any other person. Kylin Network and its related services are not provided to any individual from the United States. Kylin Network aims to build a cross-chain platform powering the data economy on Polkadot.
