To solve the above existing problems, we need a state-of-art solution to solve the above problems. The architecture of Kylin Network includes the below four major 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 much lower cost. 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.
Our ultimate goal is to provide an essential open API and SDK from a high-level perspective with the above tools, fully powering the data economy on Polkadot. The functionality can be utilized via Open API and SDK. This will be released to combine the above components.
The benefits of an open API are beyond criticism. We hope to build a framework whereby a plethora of diverse, validated data can find expression, value, and explosive operationalization in the Polkadot ecosystem.
The SDK will be both an extension of the builders’ capabilities and an extension of the value proposition of the Polkadot universe as a whole. If successful, this sort of solution brings more reliability and robustness to the entire network, as OCWs will be more than the external reference, they will become the enablers of a validated on-chain repository of trusted information for the entire Polkadot network.