Kendall'sCoefficient Chain(KCCK): A New Choice for Oracle at the Raging DeFiCraze
The Bitcoinwhite paper, revealing the blockchain technology, came into life inthe year of worldwide financial crisis, 2008.
This nascenttechnology model featuring peer-to-peer, traceability, trustlessness,decentralization and data transparency, has penetrated into everywalk of life instancing government, finance, and public welfare overthe past ten years.
Revolutionarychanges can only be brought to us by combining blockchain withtraditional industry and real economy. In short, blockchainlessnessyet penetrating. As a new system, blockchain does not have theability to interact with external data itself, yet fortunatelyenough, such weakness should be perfectly complemented by oracle,thus realizing the full function of smart contracts.
What isoracle in the realm of blockchain？
In a mostcomprehensible way, oracle connects blockchain to the real world.
If smartcontract should be seen as a protocol established beforehand, wherecodes automatically take effect when the external information reachesthe conditions triggered. The function of the oracle, differentiatingitself from its peer, uploads the data&information from off thechain in the real world onto the blockchain, and completes datasynchronization allowing the determined smart contract to respond tothe uncertainties. Boom, everything can be connected! What makesoracle in the blockchain more desired is its traits - non-tampering,service stable and auditable, all to ensure the continuous operationof systems together with unique incentivization scheme.
Kendall'sCoefficient Chain: a new decentralized oracle system
Kendall'sCoefficient Chain is supported by Kendall Foundation in the NorthAmerica, where there is a dozen of specialists from blockchaininstitutes in Stanford and MIT. Research and development experiencein NEST and LINK, along with over 7 seven’s devotion to traditionalsector blockchainizing, enables KCCK to become the very forthgeneration blockchain with the feature of DeFi and blockchainization.
If the firstgeneration oracle is represented by Provable and Town Crier, thesecond alliance oracle by the MakerDao, the third indirect oracle byChainLink, then the fourth should be Kendall's Coefficient chain.
By combiningthe advantages of the first three generations, Kendall's Coefficientchain (KCCK) aims to provide continuous, efficient and credible datainformation for blockchain systems, not only in the field of DeFi,but also in the fields of financial derivatives trading platform,borrowing&lending platform, express tracking/IoT, stablecurrency, games, insurance, forecasting market and so on.
Kendall'sCoefficient Chain: Provide efficient, correct and credible data
The Kendall'sCoefficient Chain applies Kendall’s coefficient of concordance ascore of its contract. Kendall’s coefficient of concordance is ameasure of agreement among raters defined as follows:
Kendall’s Wstatistic (sometimes called the Coefficient of Concordance) is a nonparametric statistic to calculate the correlation degree of multiplegrade variables in mathematics. It’s used to assess agreementbetween different raters, and ranges from 0 to 1. Zero is noagreement at all between raters, while 1 is perfect agreement. Thestatistic is calculated either on an interval scale or on an ordinalscale.
The Kendall'sCoefficient Chain is naturally applicable to the field of oracles. Bycomprehensively weighting the data of multiple rating objects andincorporating them into the oracle system, the credibility andobjectiveness of the data are ensured. At the same time, theKendall's Coefficient Chain token KCCK will be used for incentives toform a comprehensive and healthy ecology.
In addition tomulti-parties weighted consensus, the Kendall's Coefficient Chainfocuses on the combination of on-chain contracts and off-chaininformation. The design model makes the handling fee cheaper andfaster. By applying cross-chain technology and Layer-2 technology,Kendall's Coefficient Chain public chain provides credible data toimprove the efficiency of Dapps and public chain systems.
Based on the"price facts", the Kendall's Coefficient Chain generatesthe price facts of the off-chain market simultaneously on the chainthrough miners' bilateral asset quotation. By combining with theKendall quotation mechanism for mining, and rewarding the"price-feeding" miners, Kendall generates a logicalclosed-loop, credible and efficient distributed quotation system.
Kendall'sCoefficient Chain（KCCK）：Bornto Win in the Trillion Market
UntilSeptember 2020, the global DeFi lock-up amount has reached a maximumof 9.5 billion US dollars, in which the oracle system plays a veryimportant role, and the oracle market cap has also risen.
As a formerleader in the oracle market, LINK has increased its price by 12904%since its issuance, and its market cap has also ranked fifth amongmainstream digital currencies.
LINK hasfinished its historic mission and the fourth-generation brand neworacle, Kendall's Coefficient Chain comes to the stage of oracle.Kendall's Coefficient Chain adopts a brand-new technical model andabsorbs successful experience such as LINK. The Kendall team has muchexperience in blockchain and the scope of application is more diverseand broad, so the market prospects are sure unlimited.