Immediate monitoring. That is one of the keys that every business has to be successful. Nowadays, in the web2 world, this practice is common. Numerous software programs allow you to monitor the most important indicators of a company. Nonetheless, in the Web 3.0 industry, this is just getting started.
Parsiq is making an important place for itself here. If you were not able to discover The Graph in its beginnings, in this post you will discover reasons to add Parsiq to your watchlist.
What is Parsiq?
Parsiq is a Web 3.0 platform that allows access to information stored in EVM blockchains teck such as Ethereum (ETH), BNB Chain, Polygon, Optimism, Arbitrum, and Avalanche.
Through APIs that work as filters, developers can search for all kinds of on-chain data. You can not only use this to create internal indicators but likewise to know how your community uses your Web 3.0 protocol. This will allow any dApp to correct errors and even develop new complementary business models that will build community loyalty.
To put it another way, one of the functions of Parsiq is to be the Google of Web 3.0. Just as Google indexes and classifies articles and videos that are published on the internet for you to search them by keywords in its search engine. In Parsiq, you can do the same for stored data, in the mentioned blockchains teck, through APIs. An API is a software program that lets developers get accurate Web 3.0 data and analyze it to make better products/services.
Similarly, Parsiq offers “Data Lakes”. With Data Lakes, developers can access exclusive data that will assist them make critical decisions. It’s like having a full-time data analyst ready to slice and dice your data any way you want it. It’s custom-made just for your app.
How Does Parsiq Work?
Here’s Parsiq’s infrastructure in two parts:
- Semi-centralized: Focused on corporations, it’s a distributed data provider for software producers. This implies that clients can get data from the Tsunami API and store it in personal servers with Parsiq’s tech. The stake feature will be available here. Or you can store the data in Parsiq’s distributed network.
- Decentralized: This is the part where Data Lakes comes in. This solution verifies data using numerous parties based in numerous places. Similarly, it’s critical to mention that their native crypto token, $PRQ, will have a key role in the public SDK, and Data Lake’s marketplace. To put it another way, users will have to stake $PRQ to run Data Lakes, and the revenue from using it will be distributed in PRQ crypto tokens by a burning mechanism.
In summary, using Data Lakes will boost the utility of the PRQ crypto token by a PRQ lockout and deflationary burn. This will create a direct relation betwixt PRQ adoption and active PRQ crypto token supply/demand.
Other Advantages of Parsiq
Here are other very interesting features that Parsiq provides:
- Complete adaptability of data input and output. This implies that you can get exactly the type of Web 3.0 data you need.
- Developers can build custom-tailored APIs.
- Merge smoothly with clients’ infrastructures.
- Data export, by avoiding additional issues and extra costs associated with making the data compliant with the project’s tech stack.
In doing so, Parsiq’s primary strategy is to reach out to organizations that require market intelligence and research information.
Parsiq Use Cases
1 of its use cases is for Non-Fungible Token (NFTs). For example: If you have an Non-Fungible Token (NFT) project that is airdropping a special Non-Fungible Token (NFT) collection, with Parsiq’s Non-Fungible Token (NFT) API, you can almost instantly confirm that those Non-Fungible Token (NFTs) made it to their real owners. Similarly, devs can almost instantly access:
- Developer’s data (Events, Calls, block headers, native investment transfers).
- Crypto Tokens transfer, balance, and inventory data. (Supports ERC-20, ERC-721, and ERC-1155).
These APIs can be used for CeFi (Centralized Finance), Metaverse network, Non-Fungible Token (NFTs), and Artificial Intelligence (AI) sectors.
Roadmap & Tokenomics
Parsiq is as of now following its Roadmap with important launches. For Q1-2023:
- Tsunami API in Arbitrum.
- Indexation of Arbitrum Classic.
- ABI Decoder.
- Real-Time Filters.
- Expansion of Non-Fungible Token (NFT) Data Lake.
- JS client for Tsunami, between others.
For Q2-2023, they intend to:
- Add Optimism.
- Expand Data Lakes.
- Release a Decentralized Finance Data Lake ( For instance, Uniswap V2 data lake)
- Public release of SDK. (With SDK, users will be able to build customized Data Lakes).
You can see plans for Q3 and Q4 in the next picture:
Like all Web 3.0 projects, Parsiq started with a tokenomics model when they launched their native PRQ crypto token. Nonetheless, they now have an updated tokenomics policy to power its use cases. Similarly, Parsiq has a DAO that gives PRQ crypto token holders voting rights on tokenomics, integrations, grants, and other topics to stimulate community participation.