The workflow of the Kylin Network below shows the relationship among the major components. Data sources such as blockchain, market, social, etc., data feed into the Kylin Network and data warehouse (data storage via IPFS, local servers, etc).
Via our arbitration and consensus mechanisms, we validate all data and provide a one-stop-shop for three separate functionalities for both third-party direct data consumers and third-party apps, dapps, networks: 1) Kylin Marketplace (data exchange and pricing); 2) Kylin Oracle, utilizing OCWs and providing advanced data feed (no discrete API calls needed); and 3) Kylin Analytics (tools for analyzing the data warehouse) containing a query engine and REST Server, and later serving external analytics tools. The major portal by which consumer-side third parties will interface with Kylin Network solution(s) will be via an open API/SDK. The major benefits to the Polkadot ecosystem will be a further removal of friction from the POV of both Dapp builders, a synergetic increase in the ability to easily manage, coordinate and retrieve validated data by consumers, and a compelling tokenomic argument toward a Cambrian data supply feed explosion from various sources heretofore not yet seen (beyond just price, social, keywords and other traditional data).
The ultimate objective of Kylin Analytics is to provide query engine and analytics services for third-party apps (e.g. Dapp, Networks, etc) and external analytics tools (e.g. BI Tools, Machine Learning, etc) through open API and SDK. Kylin Analytics can support a variety of data storages (e.g. IPFS, Local Storage, etc) and leverage the interaction with external analytics tools. Some impressive examples are proving the significant impact and demand for data analytics in native crypto markets: Uniswap Protocol Analytics and Synthetix Exchange.
Once the number of data sources expands, more data-oriented applications and analytics tools can make use of the service of Kylin Analytics in production. As we see the decentralized derivative trading will become the coming trend in this booming DeFi market, our Production of Concept (POC) will design a comprehensive and sophisticated terminal for data analytics and trade execution for derivative investors.