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Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

The full English name of KYL coin is Kylin
Network, in fact, Kylin’s decentralized Oracle network supported by Polkadot, provides multiple real-time data sources. It provides a reliable, efficient and trustless solution for off-chain data, operating in a decentralized and scalable manner. DeFi refers to "decentralized finance". In the world of blockchain, it is also known as open finance. Its goal is to subvert the traditional financial service system and promote the arrival of a new era of digital economy so that everyone can gain great economic freedom. So what currency is KYL? Everyone wants to know what is the future of this KYL coin? Let the editor of the currency circle introduce it to you.

 What currency is KYL?

KYL coin is the native token of the Kylin Network project. This Kylin Oracle has designed a unique economic incentive model to ensure fair distribution of benefits among participants.

·Oracle nodes and arbiter nodes need to stake KYL: the more KYL is staked, the more data requests are allocated, and poor performance or malicious actors will cause their staked tokens to be reduced.

·Tokens are the main intermediary for trading activities: KYL tokens will be used to pay transaction, query fees, and dedicated API access fees.

·On-chain governance: KYL Token holders can vote on protocol upgrades and parameter changes on the Kylin Network to ensure that the oracle network achieves truly decentralized decision-making power.

At the same time, Kirin Network has introduced two functional designs: verifiable random function (VRF) and optimal ranking zone model (ORZ). The former requires that different data requests be assigned to different collaboration groups to ensure the fairness and effectiveness of data processing and the decentralized nature of the entire system operation; the latter uses a jump ranking weighted algorithm instead of a weighted average to calculate the pledge share of tokens , to avoid the oligopoly caused by the concentrated holding of KYL by large investors.

 What is the prospect of KYL coin?

The prospect of KYL coin is not bad. Now and in the future, everyone's most valuable asset will not be oil, gold or money. This will be data. According to the GDPR (General Data Protection Regulation), data means any information relating to an identified or identifiable natural person. Every action you take on the internet, every message you send to a friend and even your IP address is your data.

With data, we can do a lot of things like analysis and marketing, artificial intelligence model training, and even behavioral control. That’s why we need a platform that helps us control our data and make money from it in a decentralized way. Kylin
Network aims to build a cross-chain platform to power the data economy on Polkadot. It will be data infrastructure for DeFi and Web 3.0 powered by Polkadot.

Kylin Data Analytics is a combination of analysis tools designed specifically for data warehouses. It provides a query engine and RESTful API for third-party applications and external analytics tools. Kylin
Data Oracle is an advanced decentralized data feeding protocol powered by Polkadot/Substrate that provides multiple real-time data sources that complement and collaborate with off-chain workers.

The above article is a detailed elaboration by the editor of the currency circle on the two issues of what currency KYL is and what the prospects of KYL currency are. In order to ensure the authenticity and availability of data, Qilin Oracle has designed a unique challenge mechanism. Any validator can challenge existing inactive miners by staking their tokens. The challenger needs to stake 1.2 times the KYL of the challenged party. After the challenge is successful, the challenger will receive a reward of 20% of the KYL pledged by the challenger. If the challenge fails, the KYL pledged by the challenger will be directly destroyed. The authenticity standard of the data is that the price data provided by the verifier does not differ by more than 5% from the real-time price at the time of quotation.