PARSIQ Integrates Chainlink Price Feeds on Binance Smart Chain

On April 23rd, PARSIQ announced the incorporation of live Chainlink price feeds on the Binance Smart Chain (BSC). Using this feed, developers can develop automated off-chain workflows that respond to events as they happen live on the BSC main network.

By
Ifeanyi Egede
on
April 28, 2021
Category:
BSC News

PARSIQ Includes Chainlink Price Feeds on BSC

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PARSIQ has announced that it has completed the incorporation of Chainlink's price feeds live on BSC. This allows users to monitor transactions on the BSC and see prices on Chainlink. Hence, they can develop a personalized PARSIQ smart trigger and respond to market developments inside the BSC network. One reason why PARSIQ is deploying its smart-trigger services on BSC is the huge increase in the demand for PancakeSwap because BSC has lower fees and faster transaction times. Chainlink's live price feeds are already proven on the BSC, which makes PARSIQ's migration of its smart contracts seamless.


Project Components

Through access to Chainlink’s decentralized oracles, PARSIQ offers developers a place to build smart triggers that will automatically price out transactions based on live events. Smart triggers are off-chain equivalents to smart contracts, which use aggregated real-time activity data to trigger specific actions based on their coding. By giving developers access to the streamlined data Chainlink’s oracles provide, PARSIQ has diversified the potential that these smart triggers have for future projects.

About PARSIQ

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PARSIQ is a platform that allows monitoring of blockchains and automation of workflows via its proprietary programming language called PARSIQl technology which makes it possible to interpret unending blockchain data streams, monitor trades, and users' wallets. Their technology also allows the creation of personalized custom triggers. The PARSIQ smart contract enables smart contracts or their equivalents within the PARSIQ network to monitor real-time activity and connect with several blockchains. Then, use the information obtained to trigger different pre-defined on-chain and off-chain actions. The simple PARSIQl language makes smart-triggers flexible, completely personalizable to suit various needs no matter how complex, and easily developed. In other news, PARSIQ has announced that it is partnering with Kattana to improve chart accuracy and in a just-completed AMA session, the PARSIQ team answered questions bordering on various issues such as Allianceblock's investment terminal, marketing, their uniqueness from other subscription management companies and many others. They suggest that all questions be directed to their Telegram channel for faster responses.


About Chainlink

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Chainlink offers the largest collection of decentralized services to power hybrid smart contracts all over the world. This allows developers to link high-quality blockchain data sources with that of other blockchains and real-world data. Chainlink's architecture makes PARSIQ's advanced smart-triggers possible over several chains, including the BSC. Thus, users can create workflow triggers that respond to price changes of BSC assets or collect live data of trading pairs on PancakeSwap. Chainlink has released a 136-page whitepaper that explains its intentions to move to a version 2.0. Some recent projects that have been utilizing Chainlink's network include ChainGuardians (a blockchain gaming ecosystem) and DuskFoundation (a privacy-focused blockchain that anyone can use to develop Defi applications that can react to real-world data and events).


Closing Thoughts

With the availability of PARSIQ's proprietary technology on Chainlink, developers now have a system that they can use to create automated off-chain workflows that respond to live events that they strongly desire. This partnership should make off-chain workflow development much more simple, increasing the quality of future DeFi projects based in Chainlink.




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Ifeanyi Egede

Ifeanyi Egede is an experienced and versatile crypto writer and researcher on fintech, the blockchain and emerging technologies. He has several published works online and in the print media. He loves reading, research, traveling, meeting people and football. When he is not writing, he spends time with his lovely wife and kids