Scalable Business Workflows With Realtime Elrond On-Chain Data Via PARSIQ
We are extremely proud to announce that we are collaborating with Elrond, one of the fastest blockchains in existence to integrate PARSIQ monitoring capabilities.
What is Elrond?
“A highly scalable, fast and secure blockchain platform for distributed apps, enterprise use cases and the new internet economy”
Elrond is built with an Adaptive State Sharding Mechanism and a Secure Proof of Stake to enable upwards of 15,000 transactions per second, a 6 second latency and very low fees, making this network a solid contender in the blockchain space.
PARSIQ + Elrond
Built to scale with high throughput networks, PARSIQ is well-positioned to index Elrond data in real-time. The integration will enable mainnet events such a token transfer or smart contract execution to instantly trigger an off-chain process, such as sending a notification, delivering a service, shipping a product, or any kind of process in one or multiple applications.
Builders of all skill levels will be able to leverage the internet-scale capabilities of the Elrond blockchain in their workflows, thanks to the PARSIQ no-code graphical interface that makes it easy for anyone to configure simple triggers.
Advanced developers can use the ParsiQL programming language and dedicated IDE to create more complex scenarios involving Elrond on-chain data, with good performance and without the need to deploy and maintain dedicated infrastructure.
As the first steps in our collaboration, PARSIQ will soon add support for basic balance and token transfers on the Elrond Network, and the relevant filters, with smart contract monitoring and other more advanced features to be progressively added afterward.
“Off-chain platforms that can process significant amounts of on-chain data in real-time are essential to Elrond’s mission of acting as a layer of trust at an internet-scale. We’re happy to work with Parsiq and accelerate the efforts of builders that integrate our mainnet into their broader tech stack.” said Beniamin Mincu, Elrond Network CEO.
“Elrond is the first sharded architecture that will be integrated into the PARSIQ platform, which makes our collaboration very exciting. We look forward to covering the data needs of the vibrant Elrond developers community, so they can pour more creative energy into building awesome apps” said Tom Tirman, PARSIQ CEO.
Elrond is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
PARSIQ is a blockchain monitoring and workflow automation platform that serves as a multi-level bridge between blockchains and off-chain applications. PARSIQ technology is a proprietary ParsiQL programming language that allows users to monitor and interpret an endless stream of data on the blockchain; thus, it’s possible to monitor traders and ordinary users’ wallets.