The central theses
- The Polkadot relay chain added support for PARSIQ.
- PARSIQ is a platform that uses “smart triggers” to send transaction notifications to users. It acts as a bridge between chains and off-chain applications.
- PARSIQ is also integrated in Bitcoin, Ethereum, Solana and Binance Smart Chain, among others.
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PARSIQ has just started in one of the most important Web3 networks.
PARSIQ Now on polkadot
The Polkadot relay chain has integrated PARSIQ’s “intelligent triggers” so that users can receive transaction notifications through the platform.
“Intelligent triggers” are PARSIQ-native contracts that collect data from various blockchains and forward this data outside the chain. In other words, they route Web3 activities to Web2 applications. This can mean sending transaction notifications to users, bridging events, monitoring data flow, sending price notifications, and much more.
For example, a Polkadot trader can use PARSIQ to receive notification when an arbitrage opportunity arises due to a falling asset, or to be notified when their Polkadot wallet receives a DOT payment. PARSIQ can also be used to deploy bots.
Like Polkadot, PARSIQ bridges data over a network of chains, each of which has its own uses. Polkadot has become one of the dominant Web3 platforms, partly because of the promise of its “parachain” architecture. In addition to the Polkadot relay chain, parachutes such as the Acala Network and Moonbeam are part of the ecosystem.
PARSIQ is also integrated with Bitcoin, Ethereum, Binance Smart Chain, Solana, Celo, DASH and Algorand.
The latest update brings Polkadot one step closer to its vision for Web3, where value can be freely exchanged between parties on an internet-based network. Ethereum is Polkadot’s biggest rival in the race for the foundations of Web3 and shares a few similarities with the exception of plans to use shard chains and Layer 2 solutions instead of parachutes.
However, if both platforms continue to grow, the future of Web3 could indeed be multi-chained.
Disclosure: At the time of writing, the author of this role owned ETH, FLI, and several other cryptocurrencies. PRQ, PARSIQ’s native token, was SIMETRI’s January election of the month (PoM). This article was written independently.
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