What is Kylin (KYL)?
KYL is the native token of Kylin, which is a cross-chain Web 3.0 decentralized data infrastructure solution. It is based on the Polkadot chain and it utilizes the Substrate framework. Check out the current KYL price on the Kylin price chart above. The main parts of the Kylin crypto project are the following:
- Kylin Data Oracle. It is a decentralized data-feeding technology. It offers a variety of reasonably priced real-time data sources. Besides, Oracle can handle any sort of data on-chain/off-chain in a verified and reliable manner thanks to complementarity and integration with Substrate 2.0 Off-Chain Workers (OCWs).
- Kylin Data Analytics. It is an amalgam of analytical tools made specifically for data warehouses. For the general public, it implements low-cost commercialization capabilities and extracts valuable data finds, patterns, and analyses. For third-party apps or external analytics tools, it also offers a query engine and RESTful API.
- Kylin Data Marketplace. It serves as an open platform for pricing and data exchange. By paying a very reasonable charge, dApps built on Polkadot can quickly and effectively capture both off-chain and on-chain data on this marketplace.
Use Cases of KYL Tokens
KYL power the whole Kylin ecosystem. Though it has three main use cases:
- Staking. In order to become a miner, a validator, or an arbitrator, a user has to stake a certain amount of Kylin coins.
- Means of exchange. KYL tokens are used to cover any transactions and fees within the network, as well as get data access behind private APIs.
- Governance. KYL coins provide holders with voting rights, which means they get a say in the further development of the Kylin crypto project.
Make sure to analyze the Kylin price chart above if you plan to buy Kylin coins. Knowing the main trends in KYL price changes will help you to make better purchasing decisions.
Who Founded Kylin?
The Kylin crypto project was founded by Dylan Dewdney. He has a degree in sociology and social theory. In the past, he also co-founded MobileEyes, and Harbour Project. Besides, he was a business development manager at Securitas Canada, the principal at Tokenate Foundation, Chief Evangelist at Beam, and director of sales and marketing at Iron Horse Security.
As of writing this, he is a strategic lead of Kylin, the growth advisor at AdEx Network, founder & lead initiator of NFT3, and co-founder & CEO of DeData.
