• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: Breaking: Digital Currency Group (DCG) Pulls The Plug On TradeBlock: The End Of An Era?
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Digital Currency Group (DCG) Pulls The Plug On TradeBlock: The End Of An Era?
parsiq Depositphotos_48265849_s-2019
Advertisement

How PARSIQ Is Changing The Appeal Of Blockchain Technology

Bitcoinist by Bitcoinist
2 years ago
in Industry
0
Advertisement
Advertisement

The future of blockchain technology will heavily hinge on how this technology evolves. Creating more complex products and services will require constant interaction with off-chain applications and devices. PARSIQ envisions a world in which blockchains can operate without the majority of technical requirements.

What PARSIQ Aims To Achieve

The evolution of blockchain technology has proven attractive, although there is always room for further improvements. PARSIQ, founded in 2018, is a project created by blockchain engineers with ample expertise in the field. Having the ability to connect blockchain activity to applications that are not on a blockchain is the next frontier to explore. However, that is easier said than done as there is no active “bridge” between the blockchain and the real world.

Claim the JACKPOT with 55 FREE SPINS. Signup today to redeem your bonus.

By using the PARSIQ platform, anyone can build and deploy blockchain to off-chain connections. An appealing opportunity, particularly for those who may not possess the necessary coding skills. Lowering the barriers to entry is an essential first step toward attracting more people excited to experiment with this technology. 

Unlike traditional ecosystems, PARSIQ aims to remove the need for hosting nodes or infrastructure. Additionally, the team wants to remove the need for spending funds and development resources. Instead, the system is convenient to use while serving as a viable bridge between blockchain and off-chain workflows. 

Another aspect to consider is how this approach is very different from traditional Layer 1 blockchains, such as Ethereum and Bitcoin. The creation of a universal bridge between the different ecosystems will catalyze broader adoption of blockchain technology. Being a blockchain middleware provider caters to the needs of centralized and decentralized blockchain projects alike. 

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Peeking Under The Hood

As the Web 3.0 industry continues to fire on all cylinders, it is essential to provide the necessary infrastructure. PARSIQ provides a functionality known as Smart Triggers – which serve as a blockchain to off-chain smart contracts. More importantly, this Smart Trigger extends the functionality of traditional smart contracts to the outside world, creating many potential new use cases.

Secondly, the team is intent on creating an interconnecting ecosystem for all blockchains. Facilitating data transfers and exchanges of other information between the different blockchains makes it easier for users to respond to events. 

PARSIQ is best described as a subscription-based Software-as-a-service concept with multiple subscription plans from a business point of view. There is a free version available for users to explore the functionality at their disposal. Depending on the usage requirements, the subscription can always be upgraded or downgraded. 

Come June 2021; the model will transition to on-chain subscriptions. Due to this change, users who want to access PARSIQ services and subscriptions will need to hold the native platform’s token. However, there will be no further fee to use the platform, bringing more value to the native asset in the process. 

Future Outlook

It is pertinent for middleware providers to keep pushing the boundaries and continue to innovate. Exploring opportunities in the DeFi space is the next objective for PARSIQ through the IQ Protocol. As a stand-alone product launching in June 2021, there will be a link between the platform, the PRQ token, and the Protocol. A total of eight projects under the PARSIQ banner will make use of this Protocol soon.

The strength of the IQ Protocol is the first risk-free collateral-less lending and borrowing protocol to create a circular economy. With a strong focus on on-chain subscriptions, lenders can earn passive income by providing tokens to the pool. Users can “rent” expirable versions of the tokens to access the PARSIQ platform and everything it has to offer. This approach can bring more attention to tokenizing subscription-based services and features across the broader industry. 

Closing Thoughts

The approach by PARSIQ has proven successful so far, with over 45,000 registered users creating over 60,000 actively deployed Smart-Triggers. Furthermore, the network has processed over $25 billion in transactions, spanning several dozen corporate partners and clients. Moreover, the team completed an Initial Coin offering in 2019 and is on the verge of closing a Series A fundraising round this month. 

The potential B2B and B2C use cases of what PARSIQ brings to the table should not be ignored. With its ease-of-use and powerful technology, there are many different use cases for developers, traders, and enterprises to explore. Its ongoing partnerships with Aave, Solana, Binance, and others will help catalyze the broader adoption of blockchain technology. 

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Bitcoinist

Bitcoinist

Bitcoinist is the ultimate news and review site for the crypto currency community!

Related Posts

Canadian Online Slots – Best Real Money Slots in Canada

Canadian Online Slots – Best Real Money Slots in Canada

21 hours ago
HedgeUp (HDUP) Could outrank Shiba Inu (SHIB) and Polygon (MATIC) in Market Cap by 2023

HedgeUp (HDUP) Could outrank Shiba Inu (SHIB) and Polygon (MATIC) in Market Cap by 2023

2 days ago
Crypto Experts Advise to Invest in HedgeUp (HDUP) and Shiba Inu (SHIB) Before Summer Skyrocket

Crypto Experts Advise to Invest in HedgeUp (HDUP) and Shiba Inu (SHIB) Before Summer Skyrocket

2 days ago
How to Buy Shiba Inu (SHIB) on MEXC Global and HedgeUp (HDUP)

How to Buy Shiba Inu (SHIB) on MEXC Global and HedgeUp (HDUP)

2 days ago
These Two Crypto Tokens Can Beat ETH in 2023: Learn About These Two Huge Altcoins

These Two Crypto Tokens Can Beat ETH in 2023: Learn About These Two Huge Altcoins

2 days ago
These Two Tokens are Incorporating Some of the Biggest Trends: Memes and AI

These Two Tokens are Incorporating Some of the Biggest Trends: Memes and AI

2 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • Upcoming Presale Alert: Tradecurve (TCRV) Set to Dominate...

    15 hours ago
  • Unstoppable Energy of Tradecurve (TCRV) Presale Puts...

    15 hours ago
  • Sparklo (SPRK) Presale Gathers Support, PancakeSwap (CAKE)...

    15 hours ago
  • Dogecoin (DOGE) Fails to Capitalize on DRC-20 Hype...

    15 hours ago
  • According to Experts, Meme Coin DigiToads (TOADS) Could...

    16 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.