Home Blockchain Blockchain Monitoring Platform PARSIQ Integrates Chainlink’s Price Feeds, Now Live on Binance Smart Chain

Blockchain Monitoring Platform PARSIQ Integrates Chainlink’s Price Feeds, Now Live on Binance Smart Chain

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PARSIQ, the blockchain monitoring and workflow automation platform that acts as a “multi-level” bridge between blockchain networks and off-chain apps, revealed that it has built-in Chainlink’s value feeds “dwell” on Binance Good Chain (BSC).

PARSIQ confirmed in a launch shared with CI that they launched their blockchain monitoring resolution again in 2019. It’s now accessible throughout Binance Smart Chain, Solana, Sprint, Celo and Alogrand. As famous within the announcemnet, this newest integration will enable software program engineers to implement automated “Good-Triggers” on PARSIQ that “react” to real-time occasions happening on the BSC mainnet.

As defined within the launch, on this explicit case, transactions could also be monitored on BSC after which priced utilizing Chainlink-powered “decentralized” value Oracles working “natively” on BSC. Having transaction valuations will “allow customers to create predefined logic on how they need their PARSIQ Good-Set off to react to market adjustments inside the BSC ecosystem,” the announcement famous.

PARSIQ CEO Tom Tirman said:

“We’re excited to proceed enhancing our PARSIQ Good-Set off instruments, enabling customers to develop extra superior and customised automated workflows off-chain utilizing quite a lot of blockchains and Chainlink Value Feeds. We hope to maintain increasing with Chainlink as we construct help for brand new blockchains sooner or later.”

Good-Triggers is a time period launched by PARSIQ, whereby smart contract-like equivalents deployed within the PARSIQ off-chain surroundings are capable of join with varied blockchain or distributed ledger tech (DLT) networks, monitor real-time exercise, and use that knowledge to “set off varied predefined actions each on-chain and off-chain.”

The discharge additionally talked about:

“Primarily based on the simplified ParsiQL language, Good-Triggers are versatile in nature and absolutely customizable whereas nonetheless being straightforward to know and develop. Good-Triggers might be tailor-made for any person’s wants, from entry stage to extremely superior backend programs.”

The announcement additional famous that with person outlined logic, “all data gathered might be filtered, aggregated, and specified to enact deterministic, data-driven occasions.” As defined by the PARSIQ group,  this straightforward Good-Set off framework goals to decrease time necessities and removes “pointless” data transferral.

As talked about within the announcement, Chainlink’s blockchain “agnostic” structure permits PARSIQ to help “superior” Good-Triggers, referred to as Use Case Streams, throughout a number of totally different chains, “the newest of which is Binance Good Chain.”

The discharge added that it will enable customers “to arrange triggers in workflows that react to cost adjustments for property on BSC or collect real-time data on pairs buying and selling on Pancakeswap— the BSC equal of Uniswap.”

As famous within the announcement:

“Pancakeswap particularly has seen an enormous enhance in demand, generally even surpassing the day by day transaction quantity of Uniswap. This demand has continued to develop quickly because of decrease charges and quicker transaction instances on BSC. As such, PARSIQ acknowledged a have to deploy Good-Set off providers on the BSC blockchain.”

With Chainlink Value Feeds dwell and “battle-tested” on Binance Good Chain, PARSIQ was ready “to simply migrate our Use Case Streams over to BSC,” the discharge famous whereas including that Chainlink Value Feeds are acknowledged as the usual decentralized oracle resolution in DeFi for “acquiring asset valuations.”

Chainlink Value Feeds safe billions of {dollars} in worth for main decentralized finance platforms utilizing a “decentralized” structure consisting of many impartial, “safety reviewed” nodes run by giant  blockchain DevOps. These nodes get hold of knowledge from premium knowledge aggregators, “guaranteeing value knowledge displays a volume-adjusted international combination from all buying and selling environments.” This goals to make sure value accuracy and in addition “mitigates downtime and knowledge manipulation assaults brought on by flash crashes and flash loans,” the announcement famous.

The discharge added:

“Every Use Case Stream consists of extra advanced Occasions, representing essential and attention-grabbing Blockchain Actions. By introducing an Occasion Stream referred to as ChainlinkPriceFeed on BSC, Good-Triggers on BSC can now hook up with a Stream of the newest spherical of value updates for all pairs. When the Chainlink oracle community’s reference contract for any pair (e.g., ETH/USD) updates resulting from a variance in value, then a brand new Occasion is positioned to the ChainlinkPriceFeed with the finished spherical’s knowledge.”

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