Blockchain monitoring and automation platform PARSIQ will use Chainlink‘s price oracles to enable the creation of automated off-chain events, the firm said in a press release shared exclusively with The Chain Bulletin.
According to the announcement, the firm has already integrated Chainlink’s price oracles into its platform, which will allow developers to build new automated event workflows based on Chainlink’s reliable data. Developers can then use these new events, called “Use Case Streams”, to implement more complex logic and automation, such as optimal price triggers and adding price to accounting workflows. The co-founder of PARSIQ, Tom Tirman, said in a statement:
“Now, using this newest integration with Chainlink, individuals, startups, and enterprises that deal with blockchain transactions can reduce the complexity of retrieving high-quality pricing information, minimize costs, and save time by building automated workflows based on Chainlink’s widely used price data.”
Launched in 2019, the Parsiq blockchain monitoring platform was designed to act as a multi-level bridge between blockchains and off-chain applications. The platform claims to be a “Reverse Oracle”, where standard oracles provide data into a blockchain from external sources, PARSIQ utilizes data from the blockchain and delivers it to off-chain applications through notifications, alerts, and APIs.
Through the Chainlink integration, developers can now use one of PARSIQ’s core concepts – “Smart-Triggers” – which is a workflow that gets automatically executed once certain on-chain conditions are met. This can be used to automate actions and set up triggers to monitor specific token pairs’ price fluctuations.