Blockchain monitoring and intelligence platform PARSIQ has integrated Chainlink’s price feeds live on Binance Smart Chain (BSC).
PARSIQ offers comprehensive tools for analyzing, detecting, and preventing cryptocurrency fraud and other illicit activities on the blockchain. The firm’s solution claims to be the first blockchain monitoring platform that allows users to set up Smart Triggers that react to events on the blockchain in real-time using its blockchain stream manipulation language, ParsiQL. The monitoring solution addresses the fundamental complexity of analyzing multiple blockchains in real-time. Currently, the blockchain monitoring platform is available across Binance Smart Chain, Solana, Dash, Celo and Alogrand.
Chainlink enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. Smart contracts are corruptible through inaccurate and slow data. Chainlink solves this problem by connecting smart contracts to the real-world via a secure, decentralized network of oracles that ensure relevant and accurate data is fed into the ecosystem. The company is well known for providing highly secure and reliable oracles to large enterprises, including Google, Oracle and SWIFT, and leading smart contract development teams.
The new integration will allow developers to build automated Smart Triggers on PARSIQ that react to real-time events happening on the BSC mainnet. In this specific case, transactions can be monitored on BSC and then priced using Chainlink-powered decentralized price oracles running natively on BSC. Having transaction valuations will enable users to create predefined logic on how they want their PARSIQ Smart Trigger to react to market changes within the BSC ecosystem.
According to the release, Chainlink’s blockchain agnostic architecture enables PARSIQ to support advanced Smart Triggers, known as Use Case Streams, across multiple chains, the latest of which is Binance Smart Chain. This will allow users to set up triggers in workflows that react to price changes for assets on BSC or gather real-time information on pairs trading on Pancakeswap— the BSC equivalent of Uniswap. Pancakeswap in particular has seen a huge increase in demand, sometimes even surpassing the daily transaction volume of Uniswap. This demand has continued to grow rapidly thanks to lower fees and faster transaction times on BSC. As such, PARSIQ recognized a need to deploy Smart-Trigger services on the BSC blockchain.
“We’re excited to continue enhancing our PARSIQ Smart-Trigger tools, enabling users to develop more advanced and customized automated workflows off-chain using a variety of blockchains and Chainlink Price Feeds,” said PARSIQ CEO Tom Tirman. “We hope to keep expanding with Chainlink as we build support for new blockchains in the future.”
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