Time travelling with PARSIQ
Due to great demand, we’ve decided to move up our original Q3 target for release of Retrospective Smart-Triggers for analysis of historical blockchain data and are proud to announce that we are launching the first stage of Retrospective Smart-Triggers and it’s now available on the PARSIQ Platform within the paid subscription plans.
What are Retrospective Smart-Triggers?
Let’s say you want to know how much of an asset a specific wallet was holding at a specific block. Usually you would use an archive service of sorts or run your own archive nodes for storing all that data. With Retrospective Smart-Triggers you don’t have to do that, because our technology allows you to travel back in the given blockchains data and calculate that given wallets holdings, all the way down to gas expenditure amounts through an interaction with the blockchain (the highest level of analytical data available).
The technology also allows for real-time balance lookup, be it from a wallet or a contract.
Retrospective Smart-Triggers is part of our snap-shot technology, that we’ve used over and over to help projects with giving an accurate overview of token holders, in the event of hacks or exploits, like we just saw with PAID Networks. This is absolutely crucial for projects needing to do an emergency fork of their token, to protect investors and project integrity.
As part of the snap-shot technology, it allows for complex calculations of post hack and fork loss/profit trades on decentralized exchanges, like Uniswap for example. Complex value loss can be applied and with that data, elaborate refund schemes can be deployed.
We are launching Retrospective Smart-Triggers on the Ethereum network with support for ETH to start. We will be working on supporting other ERC-20 assets in Q2 along with deploying the service to our other supported chains in Q3.
Real-time monitoring, analysis and automation is our primary focus, and is the most difficult to build out in a truly real-time scalable blockchain-agnostic way (which we have), we will be adding the toolset for all historical data step-by step.
Adding historical data to our otherwise real-time focused solution has always been a set milestone, but initially we set out to crack the code on real-time data streams, because adding historical functionality to this type of solution is a lot easier than doing it vice versa.
While the first stage is only released to our paid plans, we intend to release the functionality to all tiers, even the free tier at a later point.
Who can benefit from this technology?
Asset trackers — Instead of running their own archive nodes, asset trackers could easily use this technology to see transactions on a wallet, calculate profit and loss while trading on DEXs.
Projects can use it to incorporate elaborate bonuses/airdrops for holders of specific tokens.
Unlocking perks/rewards — Imagine a project that uses the IQ Protocol for unlocking services, but wants to reward long time supporters for holding their token with something extra. Retrospective Smart-Triggers can tell you exactly who has been holding and for how long.
This can also help games with NFT usability unlock/level up, based on how long a token has been held.
Forks and disaster recovery — If a project suffered a catastrophic event such as a largescale exchange hack or exploit of a contract, this technology can provide a snapshot at any given block and supply a complete list of holders so the project can issue a fork or invoke governance features to restore correct balances.
Analytics and research — The technology can be used for a wide variety of research and since we are not limited by archived data, we can travel all the way back to the genesis blocks.