Kylin Network Highlighted in EU Blockchain Observatory & Forum Report
We are surprised and honored to find our name mentioned in the 1st EUBOF Trend Report by EU Blockchain Observatory & Forum, which is a European Commission initiative to accelerate blockchain innovation and the development of blockchain-based technology in general, helping to drive Europe’s position as a global leader in this transformative new technology.
In page 6, the EUBOF Trend Report detailed why there is a need for Oracle services and why it is necessary for the future decentralized data infrastructure. The report compared Kylin Network with Ethereum-based Oracle services providers like Chainlink, Tellor, and Band Protocol.
The most interesting part of this report is the prediction that Ethereum-based decentralized oracles are likely to fail due to the Ethereum network congestions and extreme market conditions (such as the one on Black Thursday); doubly interesting and affirming to the team at Kylin Network is the further emphasis and focus they placed specifically on Kylin Network as an optimal alternative path for future (successful) oracle services via its Polkadot-native foundations.
It feels great to be recognized among such respected names, but also to have such external confirmation of our basic thesis: that via Polkadot/Substrate, we now have the right conditions to truly solve in a comprehensive, robust, and long-term way The Oracle Problem and then further, to provide a much-needed infrastructural component to a future world where DeFi is massively adopted.
About Kylin Network
Kylin Network aims to build a cross-chain platform powering the data economy on Polkadot. It will be the data infrastructure for the future DeFi and Web 3.0 powered by Polkadot. Kylin Network hopes to provide valid, reliable, secure, cost-effective, and easily-coordinated data sources and data analytics.