Immediate monitoring. That is one of the keys that every business hasย toย 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 Webย 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 thisย post youย willย discover reasons to add Parsiq to your watchlist.
What is Parsiq?
Parsiq is a Webย 3.0 platform that allows access to information stored in EVM blockchainsย teck such as Ethereumย (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 Webย 3.0 protocol. This will allow any dApp to correct errors and even develop new complementary business models that will build community loyalty.
Toย putย itย anotherย way, one of the functions of Parsiq is to be the Google of Webย 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 blockchainsย teck, through APIs. An API is a software program that lets developers get accurate Webย 3.0 data and analyze it to makeย better products/services.
Similarly, Parsiq offers โData Lakesโ. With Data Lakes, developers can access exclusive data that willย assist them make critical decisions. Itโs like having a full-time data analyst ready to slice and dice your data any way you want it. Itโs custom-made just for your app.
How Does Parsiq Work?
Hereโs Parsiqโs infrastructure in two parts:
- Semi-centralized: Focused on corporations, itโs a distributed data provider for software producers. Thisย implies that clients can get data from the Tsunami API and store it in personal servers with Parsiqโs tech. The stake feature will be available here. Or you can store the data in Parsiqโs distributed network.
- Decentralized: This is the part where Data Lakes comes in. This solution verifies data using numerous parties based in numerous places. Similarly, itโs criticalย to mention that their native cryptoย token, $PRQ, will have a key role in the public SDK, and Data Lakeโs marketplace. Toย putย itย anotherย way, users will have to stake $PRQ to run Data Lakes, and the revenue from using it will be distributed in PRQ cryptoย tokens by a burning mechanism.
Inย summary, using Data Lakes will boost the utility of the PRQ cryptoย token by a PRQ lockout and deflationary burn. This will create a direct relation betwixt PRQ adoption and active PRQ cryptoย token supply/demand.
Other Advantages of Parsiq
Here are other very interesting features that Parsiq provides:
- Complete adaptability of data input and output. Thisย implies that you can get exactly the type of Webย 3.0 data you need.
- Developers can build custom-tailored APIs.
- Merge smoothly with clientsโ infrastructures.
- Data export, by avoiding additional issues and extra costs associated with making the data compliant with the projectโs tech stack.
Inย doingย so, Parsiqโs primary strategy is to reach out to organizations that require market intelligence and research information.
Parsiq Use Casesย
1 of its use cases is for Non-Fungibleย Tokenย (NFTs). For example: If you have an Non-Fungibleย Tokenย (NFT) project that is airdropping a special Non-Fungibleย Tokenย (NFT) collection, with Parsiqโs Non-Fungibleย Tokenย (NFT) API, you can almost instantly confirm that those Non-Fungibleย Tokenย (NFTs) made it to their real owners. Similarly, devs can almost instantly access:
- Developerโs data (Events, Calls, block headers, native investment transfers).
- Cryptoย Tokens transfer, balance, and inventory data. (Supports ERC-20, ERC-721, and ERC-1155).
These APIs can be used for CeFi (Centralized Finance), Metaverseย network, Non-Fungibleย Tokenย (NFTs), and Artificialย Intelligenceย (AI) sectors.
Roadmap & Tokenomics
Parsiq is asย ofย 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-Fungibleย Tokenย (NFT) Data Lake.
- JS client for Tsunami, between others.
For Q2-2023, theyย intend to:
- Add Optimism.
- Expand Data Lakes.
- Release a Decentralizedย Finance Data Lake ( Forย 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 theย next picture:
Source: Medium
Like all Webย 3.0 projects, Parsiq started with a tokenomics model when they launched their native PRQ cryptoย token. Nonetheless, they now have an updated tokenomics policy to power its use cases. Similarly, Parsiq has a DAO that gives PRQ cryptoย token holders voting rights on tokenomics, integrations, grants, and other topics to stimulate community participation.
