Kylin Network
Existing Problems
Accessible data querying and data analytics services are needed: DeFi is the most successful application in blockchain, but we don’t want this to be the only one because of the lack of valid external data on open networks. 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.
Legacy oracles incur high costs and difficulties in feeding off-chain data: Due to the previous lack of off-chain workers (OCW), many off-chain data cannot efficiently get access to the blockchain or the data feeding process is not cost effective via existing oracles. Substrate 2.0 framework provides OCWs as a default solution to integrate real-world data safely and securely onto the blockchain without the need to get opt-in by each validator. There is an exigent need to coordinate and validate data sourcing and also make more efficient the process of requesting via OCW functionalities. Our work would extend both.
Substrate offers a better framework and developing toolkit: While OCWs are excellent at performing the basic functions of oracle nodes, etc., they do rely on a manual request (low-level TCP API request not available in WASM). 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 (no need to make some sort of wrapper in WASM).
The interoperability and scalability of Polkadot exceeds that of Ethereum: In terms of our choice of Polkadot, there are many weaknesses of Ethereum, especially high transaction costs, and low scalability. Thus, an implementation based on the Polkadot network and its cross-chain interoperability is a better solution for the blockchain ecosystem.
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