Among about 10,000 projects out there in the crypto industry, there are only a handful of projects that have real use cases with smart tokenomics. And PARSIQ is one of those projects blessed with real use cases and leading crypto projects like Binance, Solana and many more are evaluating PARSIQ with different care observing their potential and role in the crypto industry. Throughout this entire review, we picked up some such hidden facts that will wonder you about PARSIQ and make you comprehend that PARSIQ is really bringing a revolutionary change in the crypto industry that will eventually lead to a huge turn-up in PARSIQ price.
Limited Supply with Staking Reward
PARSIQ is an innovation-driven blockchain monitoring and workflow automation platform and it is being said because it serves as a bridge between blockchain and off-chain applications. PRQ is in another word known as reverse- oracle blockchain platform. It is standing with a total supply amount of 310, 256,872, whereas the amount of circulating supply is tantamount to 117,531,069.90, which is a handful when compared to The Graph, the nearest competitor of PARSIQ. Even though PARSIQ has recently introduced its IQ protocol that can probably snatch away some PARSIQ holders. Whereas the Graph, which belongs to a market cap near about 2B dollar, has a larger total supply of 10 billion with a circulating supply of 2.90 billion than PARSIQ. But highly demanding use cases are causing PARSIQ to remain far ahead of the competitor. That is why our expectation triggers PARSIQ that its price will take an increment down the road.
PARSIQ has come with a reverse-oracle system that has a wide potential to help all classes of parties with serving their necessities. PARSIQ, head-quartered in crypto-friendly Estonia, monitors on-chain activity and automatically triggers actions based on the data. All activities of the platform are being driven with its PRQ, which is an ERC-20 token. We can foresee a sheen future of PARSIQ as it builds itself as empowering everything from traditional financial institutions to Decentralized Finance or DeFi projects.
Crypto Comparison table between PARSIQ and The Graph
|PRQ is performing transformations on live streams of events with automation triggers, user data and direct integrations with on and off-chain apps, device as well as web services.||Basically, the Graph is querying the database of historical data.|
|Parsiq provides real-time monitoring solutions.||On the other hand, The Graph offers Historical data or data with delay.|
|Push data & perhaps very soon pull data coming.||Pull data via Graph QL only.|
|Data Automations Workflows Actions||Data only|
|Marketcap = 55M||Marketcap = 2B|
The availability of online chat account helps billions of people in communicating up-to-date information online and the feature refers to its uniqueness. Large corporations and enterprise clients usually deal with massive numbers of transactions that they need to integrate triggers into, and to benefit them in doing so, there is a paid account. PARSIQ token has gotten to some competitors like Bitquery and the Graph, but these competitors are highly lagged behind to the approach of PARSIQ. Simply put, the competition allows you to pull data then trigger an action while PARSIQ pushes the data that triggers an action. So PARSIQ’s technology alone is self-sufficient to increase its price.
That PARSIQ is prompt in taking user and market-friendly decision can be observed seeing their recent coin burning issue. Initially, PARSIQ had a total supply of 500 million that has gotten a huge cut of 189 million leaving a residue of 310,256,872 PRQ. They are true to their word and they proved so with that decision. As the decision created a huge hype, it’s natural to expect that they will find their bullish trend in the market.
Too Much Functionality
It’s very inconsistent that we are writing about PARSIQ but not discuss its functionalities. PARSIQ has so many products that extend its functionalities creating a large user-use. Smart Triggers, Monitoring Wizard, ParsiQL, and IQ Protocol are some the notable products that worth noting.
Smart Triggers being blockchain agnostic prolongs the functionality of smart contracts into the real world. They are automated workflows that push on-chain data to web services and applications to trigger off-chain actions.
Monitoring Wizard is an advance feature here and with the blessing of their approach, you can get instant notification on the blockchain activity you need with any requirement of coding. Smart triggers not only monitor across multiple block-chain and off-chain apps but also include the conditional logic and data formatting you need.
ParsiQL is a domain-specific programming language and using this language, developers can deploy custom automation solution for any use case. This language deducts some necessities like-
- Ensures instrumented hosted solution for maintaining node infrastructure.
- Non-scalable solutions save time and resources.
- Standardizes all networks.
Our Cryptooof team has contacted PARSIQ and they confirmed that they are not stranded with this approach. They are trying to uncover a reverse approach that will connect off-chain network to on-chain connecting two boundaries. Their way of working and planning is completely unique and trying to break down all major hurdles from their way. However, considering their motive what we think is their price will take a growth soon.
IQ Protocol PARSIQ’s IQ Protocol is the most exciting and secure protocol so far launched in crypto industry. This on-chain ‘PRQ subscription model’ creates a circular economy deducting tension regarding utility issue. Here the lending functionality is done maintaining a high security and the security level became bolstered when Hacken, a lending cybersecurity consulting company, participated with PARSIQ in auditing activity. PARSIQ’s IQ protocol is the trendiest approach that allows PARSIQ clients to borrow and retail investors as well as PRQ holders to lend. As a result there remains a balance in coin flow and opportunity for passive earning.
PARSIQ Platform in Numbers
|Currently Deployed Smart-Triggers||150K+|
|USD Worth of Transactions Processed||27B+|
When any platform marches towards the right track, different institutional investors stumble upon it. And it is the criteria of measurement that an institution is going to mark a victory. It’s really good news for PARSIQ that it has already gotten institutional attention from firms like Stansberry Research, which is a premium research service covering a wide range investment strategies. It worth noting that they have previously suggested for Chainlink and Band protocol. They closed their Chainlink position in May for a 596% gain in 2020 and Band Protocol position in August for a 1,169% gain in the same year. Seeing high potentiality and advanced-level-strategic management in PARSIQ, they have entitled PARSIQ to be a ‘’crypto hidden gem’’. The name of Stansberry Research comes to mind first as soon as any platform thinks of investment research, and this firm is an evergreen top-notch choice from highly established to lowly established platforms.
Leading Reverse Oracle Niche
It’s a mystery of human nature that they inlay things in their mind what come first in place. Such a mindset is highly visible in crypto industry as we know. Chainlink came with its oracle solution first and we can measure its advancement seeing the price gap between the years of May 15th, 2019 and May 9th, 2021. Whereas the price of Chainlink was $0.8456 in 2019, it became $52.2 in 2021, which marks the visible growth of the protocol. Such niches are not only confined to Chainlink but also we see in others products like nft niche and DeFi niche.
PARSIQ has come up with its reverse oracle solution and on a gradual basis it is making space in the mind of people. Handling a reverse-oracle niche isn’t that easy but PARSIQ is performing its job very smoothly. There is a tendency we see in crypto space when a protocol comes with new solution and execute it nicely, it can easily grow first and see price increment. Considering this, we are expecting PARSIQ’s price to take an increment and hope to see it very soon.
There are hundreds of protocols in the crypto industry fighting each other to make space in the market. But it’s a question that what issue is lagging them behind. Community friendly team is one of the leading reasons making distance between toppers and lowly ones. But PRQ is not compromising with that issue, and that they are very serious about the issue can be understood seeing their steps taken after a hacking incident took place with CoinMetro back in the middle of 2020. Nearly about 150 PARSIQ holders became affected after the exchange became a victim of hacking. To lift their holders up from this alloy, they soon launched a token namely PRQBoost and distribute it to the holders with a 50% distribution ratio. They attempted their best to safeguard the affectees to some extent against such a loss. Such an instance of brave initiative you will hardly find among others. Their timely and impressive decisions have put a strain on the mind of people and we see that a huge fan base of PARSIQ is taking root day-by-day due to their all impressive decisions.
Store of value by holding PRQ
The issue of passive earning is not just confined to traditional finance but also the issue has got stirred up in the crypto space. PARSIQ itself launched IQ protocol to allow you with such a blessing opportunity whereby you can earn passive income by depositing your coin in it. There are a number of firms in the crypto industry where you can hold your coin to earn a passive income. Such as we can name SuperFarm which has recently announced to include PRQ in its ‘’farming platform’’ seeing a great number of people leaning towards PRQ.
One Client for 10M Wallet
We got known of a piece of information right about 3 months ago that a treaty was signed between PARSIQ and a client that requires the monitoring of 10M wallet. As there is no leakage of any official announcement, we cannot be confirming you who the client is. But you can think of the client that how big it can be that can monitor such a big amount of wallet. And it is just the starting and we will see more clients to get signed with PARSIQ down the road. Along with such increment in clients, the price will go up at a large rate.
Comparison table between PARSIQ and BitGo based on Custody Wallets
|Instant Wallet Creation Feature||YES||NO|
|Unlimited Crypto Coins & Tokens Support||YES||NO|
|No Minimum Requirements (account value etc)||YES||NO|
|User Friendly Payment Solution||YES||Maybe|
|Integrated monitoring solution with instant notifications of funds received feature||YES||NO|
The purpose of this whole writing is to make you understand what PARSIQ coin is and what PARSIQ is going to do down the road. Considering all the facts aforementioned above, we can undoubtedly say that nothing but PARSIQ’s technology alone is enough to take it too high. PARSIQ has such a great technology that it should not even depend on ‘’crypto market FOMO’’. It is a platform which is leaving no stone unturned to inlay their name in metal stone. We talked about every single aspect of this reverse-oriented oracle solution that can possibly drive the platform to the way of fruition. And PARSIQ is not just stranded by these things they have announced but very soon they will unleash many other innovations.