Kylin Launches Oracles to Protect DeFi Against Financial Data Manipulation

Kylin Network, a platform developing a cross-chain data infrastructure and the Data Economy 3.0, announced the release of decentralized oracles as part of the first applications of its technology for providing the DeFi market with an accurate, reliable, and cost-effective source of external information. The oracles developed by the Kylin Network can remove the risks of cryptocurrency price manipulations or inaccurate data by directly connecting to several reliable sources at once, verifying the information received and feeding to DeFi smart contracts on a real-time basis. This, according to the project’s developers, will protect DeFi smart contracts, which are very dependent on financial data, against price and data manipulations, adding further security and integrity to the foundations of what some are calling the next financial revolution. With Kylin’s solution powered by Polkadot, DeFi smart contracts can now read and analyze information from external sources and make accurate decisions based on the…

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