PARSIQ is excited to announce that our integration with Polkadot just went live, featuring real-time monitoring and automation for transactions happening on Polkadot’s Relay Chain.
Polkadot’s main goal is to be a bridge for transactions across the various blockchains using a unique heterogeneous sharding model, with an initial implementation developed by the experienced team at Parity Technologies.
From the Polkadot lightpaper:
Polkadot is a next-generation blockchain protocol that unites an entire network of purpose-built blockchains, allowing them to operate seamlessly together at scale. Because Polkadot allows any type of data to be sent between any type of blockchain, it unlocks a wide range of real-world use cases. By bringing together the best features from multiple specialized blockchains, Polkadot paves the way for new decentralized marketplaces to emerge, offering fairer ways to access services through a variety of apps and providers. While blockchains have demonstrated great promise in several fields—Internet of Things (IoT), finance, governance, identity management, web decentralization, and asset-tracking to name a few—design limitations in previous systems have largely hindered large-scale adoption. Polkadot’s design offers several distinct advantages over existing and legacy networks, including heterogeneous sharding, scalability, upgradeability, transparent governance and cross-chain composability.
Polkadot is designed with the idea that not any one chain will be “victorious”, but the different chains will each have their overall strengths and thus different use case applications, which is why it’s important to be able to tie all the different chains together. Furthermore we plan to add support for the Kusama chain (Polkadot’s canary network) and major Substrate-based parachains in the future.
PARSIQ shares that sentiment and both Polkadot and PARSIQ are working on being bridges, at PARSIQ we are focused on the data itself as well as bringing in the off-chain applications aspective as well, but in the future, our reverse Smart Triggers will also be focused on cross chain applications.
With this new integration, Polkadot joins our list of supported blockchains now counting Bitcoin, Ethereum, Binance Smart Chain, Solana, Celo, Dash and Algorand and will unlock a new world of possibilities for developers and companies looking to build within the Polkadot ecosystem.
Blockchain developers can leverage PARSIQ’s tools to reduce the complexity of building monitoring solutions, save development resources, reduce infrastructure costs and solve a multitude of pain points that engineers are struggling with regularly.
Expanding PARSIQ services to yet another blockchain helps solidify the goal of supporting all major blockchains and layer 2 solutions on the market, giving PARSIQ clients a futureproof solution for developing essential and automated parts of their business workflow.
PARSIQ scripts (called Smart Triggers) not only react, they store data, modify it and can behave differently in the future on the basis of already consumed data – learning from it. PARSIQ is not only an ideal platform for monitoring, it is a platform for deploying bots, strategies that can learn, AML compliance rules, automated accounting and so on. PARSIQ Technology allows each data-stream to preserve its own brand, identity and pricing model, while being empowered with additional data from other streams to enrich data.
The strength of PARSIQ’s technology, featuring IFTTT (if-this-then-that) methodology will enable developers building on Polkadot and users in the Polkadot ecosystem to build complex automations and workflows such as:
- Notifying of any DOT transaction in real-time, with customized data enrichment.
- Connecting any events happening on the Polkadot Relay Chain with user-facing front-ends or off-chain applications
- Create advanced analytics from data gathered.
- Notifying of possible advantageous trading scenarios based on on-chain activity.
Traders, Crypto service providers and analysts can all benefit from the advanced models and elaborate code that PARSIQ’s monitoring platform can provide.
Start building Smart Triggers today, with our DotTransfers stream and our ParsiQL namespace DOT.address with support for polkascan.io along with Cryptorank customization.
Start building here: https://portal.parsiq.net/signup
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