Kylin Network
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Data Marketplace
The data marketplace is one of the trillion-dollar businesses around the world. The data marketplace will function as the next logical extension of Kylin Network’s ability to warehouse validated real-world data to flow unobstructed with the kind of throughput necessary for comprehensive data feeding solutions. Validated data can be coordinated and managed such that the targeting of premium data feeds becomes possible. Specifications surrounding access to data via data feeders can be set up autonomously by the data provider in addition to cost of access in $KYL. Furthermore, capturing and coordinating all this data allows a one-stop shop for any developer to inform and ease the process of building. Using the hosted server only as a caching layer, it’s ensured that all info is on-chain, and only interacting directly with our parachain and IPFS.
The process flow for a data feeder would go as follows: register and connect and then publish specifications and offers for their feed (this will include things like API request ‘library’, pertinent addresses, reward/payment scheme, like subscription or pay-per-use). To reduce friction further, an SDK will be enabled for premium data feeders.
A use case scenario could operate as such:
  • Data feeder is registered and provides pay-per-use information on a premium data feed (pork belly futures from CME Group, Inc., for example); data consumers would search for ‘pork belly futures’ from the marketplace contracts and pick whatever result seems the most suitable.
  • CME Group provides their data on a monthly subscription basis to the consumer.
  • If the data consumer should not find a result, then they can request a bounty be approved for getting the data provider initialized and/or integrating them.
Besides, user contracts calling for a specific category of off-chain premium data would simply search for existing ones from marketplace contracts and pick the most suitable one. If there’s no such premium data feed available on-chain yet, developers could start a bounty using $KYL tokens and the community would reach out to corresponding data providers to help integrate their service on-chain.
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