Binance Announces Latest Beneficiary Of Its $100 Million Accelerator Fund
Binance has added PARSIQ, a reverse oracle blockchain platform, to the list of the beneficiaries of its $100 million accelerator fund.
According to Binance, PARSIQ is a platform that makes blockchain data actionable and makes events on its blockchain consumable. The main utility of the platform is to allow businesses and individuals to monitor events across multiple blockchains in real-time.
The platform also allows them to scale and connect the events to any off-chain apps of their choice to authenticate different workflows. With the new information by the crypto exchange platform, PARSIQ will join four other firms to benefit from the $100 million accelerator funds.
PARSIQ provides security and real-time update
Despite PARSIQ not being a DeFi project, Binance said it was chosen because it addresses some key security issues of DeFi and addresses transparency in the sector. PARSIQ technology uses the help of ParsiQL, a programming language that allows its users to monitor and interpret real-time streams of data on the blockchain.
One use case that stands out PARSIQ is the ability to monitor the wallets of traders and investors. Besides that, financial institutions and projects in the DeFi space can use PARSIQ to enhance security, expand workflows, conduct audits, and follow regulatory requirements.
PARSIQ has a very friendly interface that allows users to drag and drop, which creates a custom notification system for the activities on their wallets. Users can do things like access risk information, crypto balance information, uploading documents, and sending them to Telegram.
KuCoin has benefitted from the uses of PARSIQ after it was used to restore the balance of customer accounts that were hacked. The exchange also conducted hard forking, so rightful owners of the digital assets got their tokens.
PARSIQ plans move into the expanded token economy
PARSIQ provides one of the easiest methods of integrating blockchain technology into existing businesses. It connects workflows between blockchains to off-chain third-party applications. With this, firms like Google apps, Telegram, Zapier, and major data analytics platforms can be connected to blockchain activities using smart triggers provided by PARSIQ.
Blockchain transactions are now one of the most important aspects of major businesses around the globe. PARSIQ tends to enhance blockchain activities in certain activities like making payments, executing smart contracts as it puts you in charge of smart notifications and alerts in real-time.
PARSIQ helps you to monitor your desired blockchain transactions by tracking wallets that you want to watch. Apart from the notification aspect of PARSIQ, it provides other in-depth information from the transactions that you are monitoring.
The developer team of PARSIQ recently announced that it would move the platform into a new token economy that will provide great utility for the PRQ, the native token of PARSIQ. According to the team, it would begin with public projects which would attract users.
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