PARSIQ has launched the public beta of its innovative monitoring solution which it hopes will completely change blockchain analysis. PARSIQ is the first blockchain monitoring platform that allows users to set up “smart triggers” to react to events on the blockchain using its advanced blockchain stream manipulation language, ParsiQL. The beta is available now, free to use on the Ethereum mainnet.
PARSIQ addresses the fundamental complexity of analysing blockchains in real-time, a problem that leads to reduced trust in the technology and increased instances of fraud.
Most blockchains are – by their nature – open for everyone to see. However, their transparency is clouded by size and complexity. There is currently a lack of sophisticated tools that have the automation and deep analytics necessary to perform monitoring of blockchain at scale and in real-time. Poor tooling means market manipulation is rife, and also leads to crypto hacks going undetected until preventative action is too late.
PARSIQ, through Smart-Triggers underpinned by its advanced language, ParsiQL, allows insights, alerts and advanced blockchain monitoring to run on its platform in real-time.
Anatoly Ressin, Co-Founder & Chief Blockchain Architect at PARSIQ, said: “Right now, blockchain’s transparency is clouded by its size and complexity. Existing tools lack the flexibility to allow developers to simply and quickly create automated triggers, or program complex logic conditions that will act in realtime to give new insights and more advanced levels of monitoring than are currently possible.
“The PARSIQ Monitoring solution is part of our platform to provide new tools and capabilities for analyzing blockchains – from ensuring that funds received come from a legitimate source to securing wallets and through to the creation of better market intelligence insights.”
CoinMetro, a cryptocurrency exchange, is already working with PARSIQ on the compliance side for KYT (Know Your Transaction), and is now looking to integrate it into the wider exchange platform to enhance security and offer value-add services.
Kevin Murcko, CoinMetro CEO, said: “We’re now integrating PARSIQ into CoinMetro for data mining. By using triggers and actions to speed up our onboarding process, PARSIQ will save us a huge amount of manual time and effort, and ensure our customers are fully protected against unusual transactions.”