Blockchain monitoring platform PARSIQ integrates Chainlink’s worth feeds and now lives on Binance Sensible Chain – Crowdfund Insider
PARSIQThe blockchain monitoring and workflow automation platform that acts as a “tiered” bridge between blockchain networks and off-chain apps has confirmed to be built-in Chain hyperlink‘s Prize continues to feed “stay” Binance Sensible Chain (BSC).
PARSIQ confirmed in a model shared with CI that that they had already launched their blockchain monitoring resolution in 2019. It’s now obtainable for Binance Sensible Chain, Solana, Sprint, Celo and Alogrand. As talked about within the announcement, software program builders can use this newest integration to implement automated “sensible triggers” on PARSIQ, which “react” to real-time occasions within the BSC mainnet.
As defined within the press launch, on this explicit case transactions might be monitored on BSC after which valued utilizing Chainlink-based “decentralized” worth oracles which can be executed “natively” on BSC. Transaction evaluations enable customers to “create a predefined logic for the way their PARSIQ Sensible Set off ought to react to market adjustments inside the BSC ecosystem,” the announcement stated.
PARSIQ CEO Tom Tirman specified:
“We’re excited to proceed enhancing our PARSIQ sensible set off instruments in order that customers can develop extra superior and customised automated off-chain workflows utilizing a wide range of blockchains and chainlink worth feeds. We hope that we will proceed to increase with Chainlink as we construct assist for brand spanking new blockchains sooner or later. “
Sensible set off is a time period launched by PARSIQ by which clever contract-like equivalents offered in PARSIQ’s off-chain setting join to varied blockchain or distributed ledger tech networks (DLT) to observe real-time actions and might use this information to “set off varied predefined actions each within the chain and out of the chain”.
The publication additionally talked about:
“Based mostly on the simplified ParsiQL language, sensible triggers are versatile and totally customizable, whereas nonetheless being simple to know and develop. Sensible triggers might be tailor-made to the wants of every consumer, from entry-level fashions to stylish back-end programs. “
The announcement additionally acknowledged that the customized logic “can filter, mixture, and specify any data gathered to set off deterministic, data-driven occasions.” As defined by the PARSIQ staff, this easy sensible set off framework goals to save lots of time and keep away from “pointless” data transfers.
As talked about within the announcement, Chainlink’s “agnostic” blockchain structure permits PARSIQ to assist “superior” sensible triggers, so-called use case streams, throughout a number of totally different chains, “the newest of which is Binance Sensible Chain”.
The press launch added that this enables customers to “set triggers in workflows that reply to adjustments within the worth of property in BSC or collect real-time data on pairs buying and selling on Pancakeswap – the BSC equal of Uniswap”.
As acknowledged within the announcement:
“Demand for pancakeswap particularly has elevated enormously and typically even exceeded the day by day transaction quantity of Uniswap. This demand has continued to develop quickly because of decrease charges and sooner transaction occasions at BSC. Subsequently, PARSIQ acknowledged the necessity to present sensible set off companies on the BSC blockchain. “
With Chainlink Value Feeds stay and “battle-tested” on Binance Sensible Chain, PARSIQ was in a position to “simply migrate our use case streams to BSC” DeFi for “receiving asset valuations”.
Chainlink worth feeds are securing billions in worth for main decentralized monetary platforms utilizing a “decentralized” structure made up of many impartial, “security-cleared” nodes run by giant blockchain DevOps. These nodes obtain information from premium information aggregators. “Guarantee pricing information displays a volume-adjusted international mixture from all buying and selling environments.” This goals to make sure pricing accuracy and “scale back downtime and information manipulation assaults brought on by flash crashes and flash credit,” the announcement stated .
The publication added:
“Every use case stream consists of extra advanced occasions that signify necessary and fascinating blockchain actions. With the introduction of an occasion stream known as ChainlinkPriceFeed on BSC, sensible triggers on BSC can now hook up with a stream of the newest worth replace spherical for all pairs. If the reference contract of the Chainlink oracle community for a pair (e.g. ETH / USD) is up to date as a result of a worth discrepancy, a brand new occasion with the info of the finished spherical is shipped to the ChainlinkPriceFeed. “