What Is Kylin coin?
Kylin Network will provide a decentralized data infrastructure solution, called #DeData for Web 3.0 leveraging Polkadot and Polkadot Substrate 2.0 Off-Chain Workers including Kylin Data Oracle, Kylin Data Analytics and the Kylin Data Marketplace.
KYL is the native utility token that is used for:
Staking for data miners, validators and arbitrators. All miners are required to stake KYL with a higher stake equating in a high probability of being selected to fulfill data requests. Intermediary of Exchange. KYL will be used to pay as a transaction, query fee, and also for data access behind paywall (private APIs). On-Chain Governance. KYL Token holders are able to vote for the protocol upgrades and parameter changes on Kylin Network.
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 cost efficient real-time data sources. With complementarity to and synergy with Substrate 2.0 Off-Chain Workers (OCWs) the Kylin Oracle Network is capable of processing any type of data on- and off-chain in a validated and reliable way.
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, while 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.
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