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PARSIQ Integrates Chainlink Oracle Price Feeds to Trigger Off-Chain Actions and Trading Decisions

Blockchain monitoring and automation platform PARSIQ has integrated Chainlink price oracles to trigger off-chain actions and trading decisions….

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Blockchain monitoring and automation platform PARSIQ has integrated Chainlink price oracles to trigger off-chain actions and trading decisions.

PARISQ, the blockchain automation platform that serves as a multi-level bridge between blockchains and off-chain applications has integrated Chainlink’s price oracles, thus allowing developers to build new automated event workflows based on Chainlink’s secure and reliable price data.

The PARSIQ platform allows users and enterprises to connect blockchain activity to off-chain applications, monitor and secure DeFi apps, create customizable triggers, and set up automated workflows based on real-time blockchain events.

According to the release shared with Blockchain.News, by integrating Chainlink’s price reference data into PARSIQ’s blockchain monitoring and automation platform, price data is automatically fetched from Chainlink’s oracles, alongside the automated workflow PARSIQ’s monitoring platform delivers. This data can be used to automate actions and set up triggers to monitor specific token pairs’ price fluctuations.

These new Events, called “Use Case Streams”, enable developers to use asset prices to implement more complex logic and automation, such as triggers to notify traders when asset pairs reach optimal prices, adding price data to accounting workflows, or conducting other price-based calculations.

Oracles and Reverse Oracles

Oracles are services that allow smart contracts on the blockchain to receive information from external sources.

For the most part, oracles go one way: they feed off-chain data into blockchains. Data is pulled from sensors or other real-world sources. It is verified. It is delivered to the blockchain or smart contract. There is a whole world of possibility that exists with having data move the other way around.

In 2019, PARSIQ launched as a platform for monitoring blockchain transactions, proving its worth by enabling mempool-level monitoring and alerts. Meaning, transactions can be monitored in real-time and forensically tracked even before the blockchain nodes confirm them.

The use cases are immense, and the ability to track on-chain and cross-chain transactions has displayed a lot of potential in the realm of fintech, compliance, and platform security.

Essentially, this ability also makes PARSIQ a reverse-oracle. Whereas an oracle provides inbound data into a blockchain, a reverse-oracle will utilize data and updates from the blockchain and deliver it to real-world applications through notifications, alerts, and APIs.

As a platform, PARSIQ’s work starts when the oracle’s job of pulling data into the blockchain is done. This addresses the challenge that data can be either inaccessible or difficult to obtain from within the blockchain. For example: a smart contract cannot know the events happening in other smart contracts, thus creating information asymmetry or inverted data flow.

Oracles and reverse-oracles thus serve as a communications stack atop blockchain platforms and other technology solutions that developers can throw upon the decentralized network. PARSIQ, for one, can retrieve on-chain data and send it off-chain or cross-chain to other blockchain platforms for subsequent processing.

PARSIQ and Chainlink

PARSIQ will now be actively monitoring Chainlink’s price oracles, thus allowing developers to build new automated event workflows based on Chainlink’s secure and reliable price data.

One of PARSIQ’s core concepts is Smart-Triggers, which can be seen as a workflow that gets executed when a particular Blockchain Activity happens under certain conditions.

The Smart-Trigger connects to a Native Event Stream, where each condition’s matching event acts as an input for the Smart-Trigger, which then activates the workflow.

Native Event Stream of Blockchain Activity-based Events are fundamentally native to a certain blockchain or at least received a status of an integral part of it (e.g., Ethereum Token Transfers). For example, with Ethereum, we could have Transfers, Token Transfers, Smart Contract Message Calls, or Smart Contract Events. Chainlink Price Feeds enable new event streams.

Starting with the Chainlink integration, PARSIQ will introduce a new type of Event Stream called Use Case Streams. Each Use Case Stream will consist of more complex Events representing important and interesting Blockchain Activities.

Tom Tirman, PARSIQ Co-founder, said of the Chainlink integration:

“Users can receive notifications on communication platforms like Telegram or directly to API endpoints via Webhooks. Now, using this newest integration with Chainlink, individuals, startups, and enterprises that deal with blockchain transactions can reduce the complexity of retrieving high-quality pricing information, minimize costs, and save time by building automated workflows based on Chainlink’s widely used price data.”

Tracking prices can be tedious and time-consuming for most users. By integrating Chainlink’s oracles into the PARSIQ platform, users can now monitor and get notified in their personal off-chain applications when there are any pricing changes in specific token pairs they’re following. This allows all types of investors to automate their workflows based on market conditions and assess any risks in their future transactions. 

Source: https://blockchain.news/news/parsiq-integrates-chainlink-price-feeds-to-trigger-off-chain-actions-and-trading-decisions

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Crypto Market Roundup: Top Earners and Losers for Today

Cardano and The Graph are the top gainers today, while the performance of Shiba Inu and IoTex hit the worst to become the biggest losers today.

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The selling pressure in the global crypto market was stumped on Friday as several coins began paring off their losses from the previous day.

Bitcoin’s market strides were visible as the largest cryptocurrency surged 1.72% to $46,146.24 at the time of writing. Ethereum (ETH) is also favoured by the bulls, inching a 3.04% gain to $3,237.66, according to CoinMarketCap.

Amidst the broader rise in price, here are the top gainers and losers for today, August 13.

Top Gainers

The Graph (GRT) is leading the altcoin surge today after the coin’s buyers pushed the price to $0.9413, atop an 18.30% gain. At this pace, The Graph is on track to break the $1 resistance level and journey down toward its 90-day high of $1.42. The Graph’s use case permits an increased embrace. It plays a role as an indexing protocol for querying data for networks like Ethereum and IPFS, supporting many applications in DeFi and the broader Web3 ecosystem.

Meanwhile, Cardano (ADA) has also shifted its price to its highest price gains of all time, surging above the $2 psychological level for the first time in 3 months. With several test nets deployed, the coin has enjoyed increased sentiment from buyers as the broader digital currency ecosystem prepares for the arrival of the Alonzo upgrade that will aid the emergence of smart contracts and DApps on the Cardano blockchain. The token has been tagged as undervalued. However, we may begin to see the coin’s true worth come to life with the new upgrade.

Top Losers

The majority of the tokens are paring off their losses. However, meme token Shiba Inu (SHIB) is the biggest loser amongst the altcoins topping the chart after inking a 0.50% slip in price to $0.00000795. IoTex (IOTX) was down 3.36% to $0.1102 during the intraday.

The momentum in the market may drive in such buying volatility that will stir these coins off the red zones. The global crypto market is currently on track to re-register a $2 trillion market cap to cover the weekend.

Image source: Shutterstock

The Graph (GRT) is leading the altcoin surge today after the coin’s buyers pushed the price to $0.9413, atop an 18.30% gain. At this pace, The Graph is on track to break the $1 resistance level and journey down toward its 90-day high of $1.42. The Graph’s use case permits an increased embrace. It plays a role as an indexing protocol for querying data for networks like Ethereum and IPFS, supporting many applications in DeFi and the broader Web3 ecosystem.

Source: https://blockchain.news/analysis/crypto-market-roundup-top-earners-and-losers-today

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Ethereum is Expected to Undergo a 90% Daily Emission Reduction Following ETH 2.0 Upgrade

Market analyst Lark Davis believes that Ethereum 2.0 upgrade will prompt a 90% daily emission reduction from 12,800 to 1,280.

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Ethereum (ETH) was up by 9.72% in the past week to breach the psychological price of $2K during intraday trading. ETH’s price stood at $2,056 as the second-largest cryptocurrency continues to gain momentum.

Market analyst Lark Davis believes that the upgrade of Ethereum 2.0 will prompt a 90% daily emission reduction from 12,800 to 1,280. He explained:

“The other wildly important aspect of The Merger is that ETH will undergo a 90% reduction in daily emission. Basically from 12,800 a day to 1,280 a day. Yearly inflation from 4.3% down to 0.43%. This is equivalent to 3 Bitcoin halvings, and is only months away.”

Ethereum 2.0, also known as the Beacon Chain, was launched in December 2020 and was regarded as a game-changer that seeks to transit the current proof-of-work (POW) consensus mechanism to a proof-of-stake (POS) framework.

Davis also noted that Ethereum would experience “Triple Halving” as part of the ETH 2.0 upgrade, a highly significant economic event for the asset’s price in the coming years.

Ethereum whales cumulatively hold 60.52 million ETH

According to on-chain metrics provider Santiment:

“Ethereum whales that hold between 10k and 1 million ETH in their respective wallets now own a cumulative total of 60.52m coins. This is the highest amount held by this tier since in 5 weeks, and represents a 1.65million ETH accumulation in the past 6 days.”

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Therefore, ETH whales continue investing in this asset, which indicates high confidence levels.

Ethereum has been making headlines based on its notable strides. For instance, ETH has had an impressive return on investment (ROI) of 171% this year compared to tech stocks like Microsoft, Facebook, and Apple. Furthermore, Davis had previously noted that Ethereum was settling three times more value on-chain than Bitcoin daily.

Image source: Shutterstock

“The other wildly important aspect of The Merger is that ETH will undergo a 90% reduction in daily emission. Basically from 12,800 a day to 1,280 a day. Yearly inflation from 4.3% down to 0.43%. This is equivalent to 3 Bitcoin halvings, and is only months away.”

Source: https://blockchain.news/analysis/ethereum-is-expected-undergo-a-90-percent-daily-emission-reduction-following-eth-2.0-upgrade

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South Korea Authorities Seizes $47M in Crypto from Tax Evaders

South Korean authorities have made the largest crypto seizures in the country’s history. $47 million in digital currencies have been confiscated.

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Authorities in the South Korean province of Gyeonggi have conducted the largest tax seizures ever, seizing $47 million in Bitcoin (BTC) and Ethereum (ETH).


According to the coverage reported by the Financial Times, the seizure involved about 12,000 tax evaders. The authority has called the action the largest “cryptocurrency seizure for back taxes in Korean history.”

Those “tax dodgers” committed the crime by connecting their trading or investment activities on trading platforms operating in the country with their phone numbers. The process, though rigorous, had to be done manually as crypto exchanges were unable to fully provide the Know-Your-Customer (KYC) details of the defaulting taxpayers. In addition, the FT report was unclear which digital currency trading platform was involved in the investigation.

South Korea has a robust cryptocurrency trading engagement amongst its citizens, and the country has been making moves to implement accomodating regulations. One of these is the law passed by the Korean National Assembly in March 2020. This law mandates cryptocurrency exchanges to take down customer’s details through KYC and obtain licenses to operate from banks.

While big exchanges such as UpBit have been able to comply, other smaller trading platforms have had their struggles in complying, a situation that was compounded by financial institutions dissociating from crypto exchanges. Besides these, South Korea has long been mulling enforcing a 20% capital gains tax on cryptocurrencies, all of which will be made easier with compliant crypto exchanges.

South Korea is one of the more receptive countries to blockchain and cryptocurrency-related innovations. While crypto has thrived in the country in the past decade, the government is taking bold steps to develop its own Central Bank Digital Currency, the Digital Won. Despite its soft stance, however, the nation has zero-tolerance for fraud amongst crypto entities, as showcased in the ongoing raid of Bithumb exchange amidst a broad fraud investigation.

Image source: Shutterstock

Source: https://blockchain.news/news/south-korea-authorities-seizes-47m-in-crypto-from-tax-evaders

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