Posted 1 year ago | by @devadmin

Kylin Network is proud to announce a partnership with PlasmaPay, which is actively building decentralized financial services and infrastructure for the global digital economy. In-kind, Kylin is building the data infrastructural components to power this new global digital economy by providing a context for validate and decentralized data feeds.

Above and beyond oracle services with Kylin Network, PlasmaPay is keen to explore innovative ways of monetizing and using data associated with a decentralized data economy operating on Polkadot.

“The main vector of hacker attacks is via flashloans and price manipulation in protocols that do not use robust oracle systems. We are deeply convinced that the Kylin Network is one of the most promising players for building a truly secure and decentralized system of oracles, which can minimize the likelihood of new flashloan attacks on prices. Another strong and unique feature of the Kylin protocol is the emergence of a new decentralized data marketplace. With this comes the ability to supply data and buy it. We plan to integrate Kylin to exchange data and to take advantage of their network of oracles for Plasma DeFi protocols, which will provide a high level of security for our users and liquidity providers.”

Ilia Maksimenka, CEO of PlasmaPay

“PlasmaPay is a great project to work with because their platform is extremely strong and comprehensive. We are extremely pleased and excited that they are engaging themselves at the cutting-edge of interoperability and data marketplace innovations through Kylin and Polkadot.”

Dylan Dewdney, CEO of Kylin Network

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 will provide valid, reliable, secure, cost-effective, and easily-coordinated data sources and data analytics.

Contact Kylin Network

About PlasmaPay

PlasmaPay is a global digital payment platform enabling seamless entry into decentralized finance. It’s mission is to Democratize the DeFi market by creating an all-in-one solution for both novice and experienced crypto/blockchain users. PlasmaPay provides industry leading UX, crypto/fiat wallets and fiat on/off ramp services to more than 100,000 cryptocurrency users from over 160 countries via mobile and desktop apps.

Contact PlasmaPay

Original article published on Medium here.