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Both Chainlink and the Kylin Network offer an oracle however both protocols are vastly different and have their own respective pros and cons. In this article we will dive into how they both work, the similarities between the two and which one is a better investment.

Kylin Network vs Chainlink


How is Chainlink and Kylin similar? 

Both Chainlink and Kylin Network offer an oracle which allows smart contracts to communicate and access live data feeds from the outside world.

While both Chainlink and Kylin both offer an oracle they are both doing it in their own way. Chainlink in a sense is the big dog of the oracle space with dozens and dozens of partnerships providing a live feed to off chain data while Kylin is focussing on the Polkadot network and creating a multi chain future.

What does Kylin Network do?

Kylin is a layer 1 blockchain for data infrastructure for DeFi and Web3, built on Polkadot Kylin helps to democratize the chain of data management required by all web3 projects.

Kylin offers a synergistic multilevel oracle that helps to power the data economy on Polkadot, it does this by providing a valid, reliable, secure and cost effective data source and analytics for web3 projects built on the blockchain Polkadot.

One of Kylins main goals is to be a cross chain data provider meaning multiple different blockchains such as Ethereum and Solana can communicate with each other and share data in a secure manner, this also applies for off chain data.

One of the reasons that Kylin has built on Polkadot using its Substrate framework is due to the high level of security which is essential when moving live data feeds and also the low costs of transactions. As we have learnt Ethereum handles a very high level of transactions and often experiences congestion resulting in high transaction fees.

Polkadot on the other hand can handle high transaction output while maintaining minimal transaction fees due to its substrate framework.

What is Chainlink?

Chainlink is an oracle that allows smart contracts on blockchains such as Ethereum to communicate with the real work outside of cryptocurrency. By using Chainlink as a data oracle smart contracts can connect to data in the outside world to communicate.

Oracles serve as a bridge from blockchains to the outside world to allow data to be passed between the two.

If you haven’t already guessed it, this is a very powerful use case and something that a lot of smart contracts require as without an oracle smart contracts cannot communicate with the real world and pull live data feeds from data outside of cryptocurrency.

Chainlink was one of if not the first oracle to be developed and has staked a major claim in the space with partnerships with a majority of the large blockchains and most networks that require a live data feed to the outside world is currently using Chainlink.

Is Chainlink still relevant? 

Yes. As one of the first oracles on the market and arguably the best performing Chainlink is very much still relevant and most likely will be for a long time due to its use case and the demand for it.

As long as on chain smart contracts need to communicate with off chain data feeds Chainlink will have a use case and customers.

Why do we need oracles?

The use cases for oracles are vast and possibly one of the most important sectors for cryptocurrency. Providing a way for smart contracts to communicate and pull data from off chain data sources is crucial in a lot of industries such as sports betting, real estate, legacy market trading and more.

A good example of this is using a smart contract to manage payments for a distribution company. By using an oracle a smart contract can pull the data from a shipping company and see when a shipment of goods has been delivered, the smart contract can then release the payment for these goods based on the data it received saying that it has been delivered.

Chainlink as a potential investment

Chainlink has staked its claim in the oracle and cryptocurrency space making it a fairly safe investment with its broad range of partnerships and the essential use case in the oracle that it provides.

If we look at Chainlink purely from a price action view point we can see that the LINK token is currently trading at $5.58 down from an ATH of $50, this gives LINK an almost 10x return if it were to reclaim its all time high.

Now will this happen? It’s hard to tell however with Chainlink having possibly the most important use case and such a wide range of partnerships in the crypto space if the market does reclaim its all time highs then Chainlink has a decent chance of reclaiming that $50 price.

Kylin Network as a potential investment

As a micro cap altcoin with a market cap of just $3 million Kylin Network (KYL) is a much higher risk investment than Chainlink however it has a lot more room to grow price wise compared to Chainlink.

Again if we look at KYL purely from a price action view point we can see that KYL is currently sitting at a  price of $0.012 down from an all time high of $2.80, this gives KYL a whopping 280x return back to its all time high.

This is a very large return and in my opinion KYL does not have as high a chance of reclaiming its all time high as Chainlink does.