Over the previous 13 years, the world has seen innovation at its most interesting. The creation of Bitcoin, the event of cryptocurrencies, the launch of blockchain initiatives, Decentralized Purposes (Dapps), and way more. To gauge the monetary evolution of blockchain one want solely contemplate the worth of Bitcoin in 2013 and evaluate it to as we speak. In 2013, a single Bitcoin was price $22. At the moment, Bitcoin is comfortably over $60,000, with analysts suggesting $100,000 is in sight. With the regular enlargement of blockchain know-how, the Blockchain as a Service (BaaS) revolution has begun. PARSIQ strives to pioneer the use instances of this BaaS revolution.
PARSIQ: An Overview
PARSIQ promotes BaaS via its next-gen monitoring and intelligence platform. Customers can observe and make the most of blockchain knowledge for quite a few use instances. These embrace:
- Monitoring digital belongings in real-time
- Notifications of Blockchain community exercise
- Gathering and processing on-chain knowledge
- Combining on-chain with off-chain knowledge reminiscent of Danger Information/Market Information and many others.
PARSIQ additionally allows multi-blockchain interoperability and the power to create advanced workflows between them. Straightforward-to-use, versatile, and scalable; PARSIQ removes the complexity from blockchain-specific workflows in order that customers can effectively and comfortably rework blockchain knowledge.
Furthermore, PARSIQ supplies integration with many high-profile blockchains reminiscent of Ethereum, Binance Good Chain, and Solana. With this wide selection of blockchain platforms steadily rising, the potential use instances for customers solely continues to extend.
The principle enterprise goal and imaginative and prescient of PARSIQ is to observe and shield blockchain knowledge. PARSIQ allows the creation of totally customizable advanced monitoring options with the power to combine on-chain knowledge with notification techniques, successfully creating alerts for blockchain-based knowledge occasions.
On the core of PARSIQ’s first day of formation, these two groupings pioneer the PARSIQ platform’s imaginative and prescient. These embody the utilization of on-chain/off-chain knowledge and workflow optimization as we’ll discover additional under.
Maintaining Up-to-Date Block by Block
One of many principal use instances of PARSIQ is its potential to facilitate versatile and easy-to-use on-chain evaluation. On-chain evaluation supplies a basic strategy versus a sentimental strategy and can be utilized to establish historic traits. PARSIQ allows efficient on-chain evaluation by way of the usage of its platform and lots of evaluation instruments.
Each small companies and enormous enterprises can implement on-chain evaluation utilizing PARSIQ’s blockchain connection automation, totally customizable workflows, and versatile integration choice. Spanning on-chain knowledge and off-chain apps, workflows will be augmented with conditional logic, combination, formatting of information, and way more to effectuate all evaluation targets.
Taking PARSIQ’s Good-Set off automation into consideration, this course of additional develops next-gen on-chain evaluation. Good-Set off receiving enter occasions, processes every in response to the user-specified logic, and produces intermediate/output occasions in correlation with Consumer Information specs.
When a person defines their monitoring targets in Consumer Information, the Good-Set off will be programmed utilizing ParsiQL language to course of and contemplate all monitored info. In layman’s phrases, utilizing the Good-Set off course of, customers are capable of amalgamate mass info shortly and successfully to conclude their on-chain evaluation.
Good-Set off: Growing Upon Blockchain Oracle Interoperability
Blockchain oracles allow blockchain or good contracts to work together with exterior knowledge. This facilitates the on and off-chain pathway and lays the muse for interoperability between blockchains.
Good-Set off contributes to the Blockchain know-how area by instantly enhancing upon this interoperability by way of its monitoring and data-gathering utilities. As with all good contract or blockchain, an oracle is required to facilitate the transferral of knowledge between it and the actual world. How Good-Set off builds upon this course of is by automating the motion of information throughout a number of blockchain integrations, all primarily based upon user-specified necessities.
Not like oracles, Good-Triggers are versatile, easy-to-use, totally customizable, and will be tailor-made for any person’s wants. Utilizing the logic chosen, the mass info gathered will be filtered, aggregated, and specified right down to the minutest standards. This course of cuts time necessities, eliminates pointless info transferral, and develops upon the core of oracle interoperability.
An on-chain evaluation software of this caliber matches comfortably into the identical league of research instruments employed by companies reminiscent of Chainalysis. Equally, PARSIQ’s Good-Set off allows the identical effectivity of threat administration, blockchain knowledge monitoring, and data-gathering.
Certainly, PARSIQ Good-Triggers have the potential to bridge the hole between client apps and on/off-chain evaluation utilizing an strategy that has by no means been trialed earlier than.
Optimizing the Workspace Utilizing PARSIQ
One other robust use case of PARSIQ is the environment friendly optimization of workflow purposes. Used along side Smart Triggers, PARSIQ workflows will be totally custom-made, organized, and utilized to determine an answer that grows with the person.
A workflow facilitates a multi-action knowledge transaction and automates responses to specified occasions utilizing Good-Triggers. An instance may very well be as follows:
- Good-Set off: A Bitcoin transaction – an deal with has obtained a brand new transaction.
- Telegram Bot: person alerted by way of Telegram integration concerning the new transaction.
- Information Danger Rating: provides a threat rating using off-chain knowledge.
- Slack Alert: notification of the danger rating is supplied to the person compliance group on Slack.
This multi-step technique of motion and response is known as a workflow and will be utterly custom-made to automate a sequence of reactions primarily based upon a Good-Set off occasion. Utilizing the array of instruments supplied, customers can customise their workflow to develop actual worth for his or her enterprise.
With a straightforward drag & drop visible editor, The PARSIQ platform will enable customers to simply construction their very own enterprise logic and enter situations with an easy-to-use person interface at present beneath building. Deploying Good-Triggers to realize automation objectives, customers can specialize workflows tailor-made to their very own enterprise. This cuts time necessities, response instances and permits extra time for the event of extra essential enterprise elements.
When PARSIQ secures integration with Slack and Trello, each communication and activity administration might then be managed concurrently by way of PARSIQ workflow optimization. This potential course of would start with a Good-Set off, which then automates the communication responses. Following this theoretical chain of automation, the automated Slack response to the Good-Set off would instigate a Trello response which might set up and replace activity administration layouts.
The Subscription Mannequin Re-evaluated
The PARSIQ subscription mannequin, IQ Protocol, goals to supply an affordable and versatile methodology for on-chain subscription implementation – with out sacrificing workflow high quality/utility. Relatively than staking to entry PARSIQ’s IQ companies, this new Decentralized Finance (DeFi) framework allows companies to subscribe. This framework works to keep away from token issuance pitfalls typically encountered by different BaaS’s. To ship this subscription mannequin service, PARSIQ has launched the notion of ‘Energy Tokens’.
Energy Tokens usually are not thought of a type of fee, however as a substitute, a measure of power technology. The power gathered takes the function of being an accountable unit spent for service consumption (very like gasoline charges for Ethereum transactions). This token mannequin proposed by PARSIQ units the stage for collateral-less borrowing of Energy Tokens which in flip ensures the mortgage aspect of the IQ Protocol is risk-free. PARSIQ’s innovation by way of the IQ Protocol opens up mainstream adoption of DeFi participation whereas nullifying the related dangers. Establishing tokenomics which are each sustainable and measurable over time, the IQ Protocol goals to make the most of Energy Tokens to revolutionize the way forward for BaaS.
PARSIQ Is the Future
Certainly, PARSIQ’s IQ Protocol is a decided try to bridge the worlds of DeFi and mainstream, one of many first such makes an attempt seen within the area since its rise to reputation final summer time. The proposition of a completely new strategy to acquiring utility from DeFi platforms in a subscription-like method places IQ in line with the normal subscription mannequin utilized in mainstream utility growth.
This ends in a shallower studying curve for mainstream organizations trying to develop within the DeFi area, while additionally assuaging a few of the issues related to holding typically risky tokens to realize entry to DeFi platforms. As well as, PARSIQ’s integrations are a transparent effort to decrease the price of growth, in addition to encourage an open and multi-platform strategy to growth. This provides potential builders extra flexibility in relation to selecting the place to base within the DeFi area, in addition to opening up the mainstream world to a number of DeFi-focussed platforms on the similar time.
The way forward for DeFi is determined by its integration with the mainstream world. PARSIQ embodies the transfer in that path, with IQ being its defining step.
To be taught extra about PARSIQ and its imaginative and prescient for the way forward for DeFi as we speak, go to their principal web page here. To be taught extra about IQ Protocol and the way PARSIQ makes use of it to re-imagine DeFi, learn the IQ weblog publish here.
This can be a sponsored publish. Discover ways to attain our viewers here. Learn disclaimer under.
Picture Credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This text is for informational functions solely. It isn’t a direct supply or solicitation of a proposal to purchase or promote, or a suggestion or endorsement of any merchandise, companies, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, instantly or not directly, for any injury or loss triggered or alleged to be brought on by or in reference to the usage of or reliance on any content material, items or companies talked about on this article.