Genesis Shards
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Genesis Shards

Genesis Shards and Kylin Network enter into a Strategic Partnership

Genesis Shards has partnered with Kylin to access oracle services and integrate price data feeds through Kylin’s Oracle network!

Smart contracts require real-world data access to begin their execution. Such external data is not available on the blockchain directly — the job of providing off-chain data is done by oracles.

The key is that this real-world data input needs to be both up-to-date and reliable. If this is not ensured, the smart contract will use bad data, and hence the decentralized app using the contracts will be compromised.

If an oracle system is not decentralized enough, as is the case with many today, this can become a single point of failure. In addition, centralized systems are subject to human manipulation and errors.

Kylin is creating a cross-chain platform that provides trustless data infrastructure for powering DeFi applications on Polkadot. The Kylin Oracle Network offers instantaneous, secure, and reliable on/off-chain market data and social data sources to DApps by leveraging the power of Polkadot/Substrate Framework on open networks. Further, Kylin Data Analytics is a combination of analytic tools designed for data warehouses, which provides a query engine and RESTful API for third-party applications and external analytics tools.

Our partnership with Kylin will help drive oracle scripting, data analytics, and data feeding parameters with respect to our upcoming NFTX exchange.

Through access to oracle services, price data feeds and advanced analytics possible via the Kylin Data Analytics RESTful API tools, huge opportunities are waiting to be unlocked.

The partnership also opens the doors for Kylin to become a Genesis Shards strategic ecosystem partner. This would open up avenues for Kylin to potentially forge partnerships with promising early-stage DeFi projects within the Genesis ecosystem.

Garlam Won, Co-Founder of Genesis Shards:

“ Partnering with Kylin as our oracle partner will help us realize the potential of the Genesis network to the fullest potential. We believe Kylin is the most advanced decentralized data feeding protocol in the Polkadot ecosystem — the synergies from the partnership are going to make a significant contribution to the DeFi space.“

Dylan Dewdney, CEO of Kylin Network:

“Genesis Shards is breathing life into the pre-IDO markets through their novel GenSwap architecture, which will be a massive boost for the crypto community. We are proud to be able to partner with them and help power their NFTX platform. ”

. . .

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.

About Genesis Shards

Genesis Shards is a decentralized ecosystem powered by Polkadot redefining NFTs as DeFi options, creating a permissionless environment of interchain liquidity for pre-IDO tokens.

The next major steps in Genesis’s journey will be announced soon! Keep an eye on this space for updates.

To join our waitlist kindly fill this form:

https://bit.ly/313SwCa

Follow Genesis Shards’ developments on:

Telegram Announcement | Telegram chat | Twitter | Website

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Genesis Shards

Genesis Shards

2.6K Followers

Transforming NFTs into a liquidity vehicle for Pre-IDO tokens and a whole new suite of DeFi products across multiple blockchains.