PARSIQ has been one of the game-changing blockchain platforms in 2023. The project helps developers create unique Web3 apps. These apps can transfer on-chain and off-chain data in real-time. PARSIQ works with several blockchains and has over 50,000 users.
In simple terms, developers leverage PARSIQ to:
- Connect their blockchain DApps to devices,
- Track the changes on the blockchain.
- Build custom events from smart contracts,
- Create DeFi applications,
- Build automated bots.
The team recently released its Q3 report. The report showed the huge progress made between July and September. Notably, PARSIQ saw an impressive 31% increase in revenue. Now, let’s look at the updates.
And we've all heard about how #AI will drastically change the nature of trading…
— PARSIQ | #BUIDL your Web3 Unicorn (🌊,🦄) (@parsiq_net) October 20, 2023
The Reactive Network
In September, PARSIQ unveiled an important tool for developers called Reactive Network. The tool features “Reactive smart contracts”. As its name implies, this groundbreaking smart contract reacts to on-chain events. This means they can execute specific programs if certain events take place on-chain.
⚡️ Big news! Introducing Reactive Network by PARSIQ, a groundbreaking decentralized layer for cross-chain #EVM interactivity! 🚀
🔗 Announcement: https://t.co/oPAO9K7aAw
🔗 One-pager: https://t.co/A7Oh2rL9qS pic.twitter.com/t52N4xJuw6
— PARSIQ | #BUIDL your Web3 Unicorn (🌊,🦄) (@parsiq_net) September 27, 2023
The Reactive smart contracts change how developers build dapps. It enhances smart contract capabilities and cross-chain functionality. This paves the way for new opportunities in Web3. As well as the future of blockchain.
The Reactive network supports features such as
- smart liquidity management,
- automated portfolio rebalancing.
In addition, it will simplify interactions across different blockchain ecosystems.
The Launch of the PARSIQ SDK
One of the outstanding events within the PARSIQ community in Q3 was the launch of the PARSIQ SDK. The tool helps manage and analyze large-scale blockchain data using Tsunami APIs. It features several tools that make it easy to use. This includes:
- easy-to-use state storage,
- customizable settings,
- support for different Data Lake types.
Interestingly, the PARSIQ Tsunami API is available on Polygon’s zkEVM. The tool provides quick access to historical and real-time data. This makes it easier for projects to optimize their operations.
Also, the team also extended PARSIQ’s TsunamiAPI to the opBNB Chain! So, developers can access real-time and historical data. This provides support for their upcoming projects.
Community Updates in Q3
Community development is one of the core visions of the PARSIQ team. And the team had some events connecting partners and the community in Q3. This includes a partnership with Thrill Labs. The collaboration seeks to explore new opportunities and expand their network. The partnership allows Web3 projects and developers to access data to build.
PARSIQ also joined a community call with Metis and Tethys Finance in Q3. The goal is to discuss Web3 and innovation in the crypto space. Also, the team held an insightful AMA with Altcoin Buzz.
Buckle up for a highly informative Discord Community Call this Friday⚡
— Metis🌿 (@MetisDAO) July 20, 2023
PARSIQ continued its bid to expand its community in Q3. And announced several strategic partnerships with Web3 companies with similar visions. One of their new partners, Hera Finance, is a leading DeFi platform. The platform seeks to ease the flow of cryptocurrencies.
— PARSIQ | #BUIDL your Web3 Unicorn (🌊,🦄) (@parsiq_net) August 24, 2023
PARSIQ also announced a partnership with Uniblock in Q3. Uniblock assembles different tools to help Web3 investors and developers build. Developers can leverage both platforms to build and scale without.
To follow our recent Alibaba Cloud partnership, we're proud to announce today that PARSIQ has joined the Cyberport Incubation Program in Hong Kong!
— PARSIQ | #BUIDL your Web3 Unicorn (🌊,🦄) (@parsiq_net) September 26, 2023
In September, the PARSIQ team took things a step further. They announced a partnership with Alibaba Cloud Services. PARSIQ’s Tsunami API became the first blockchain data indexer on the Alibaba Cloud marketplace. Alibaba is the largest Cloud Marketplace in the world outside the US (Amazon, MSFT, Google).
Q3 ended with another partnership with Hong Kong-based Cyberport. These partnerships reflect PARSIQ’s ambitions to expand its community. And increase its value.
PARSIQ stayed busy throughout Q3. And it spent most of the quarter improving its community experience. The team was at several community events throughout Q3. See the image below for a list of some of the events.
As mentioned earlier, PARSIQ saw huge growth in revenue in Q3. And we can say that’s all thanks to its community-focused approach. The team has already begun taking steps in line with its goals in Q4. And we’ll provide you with that update at the end of this quarter.
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by PARSIQ.
Copyright Altcoin Buzz Pte Ltd.