CSP DAO invests in Paralink Network
We are proud to announce Paralink Network as an addition to our portfolio.
Paralink is a cross-chain data ingress engine built on Polkadot — Simply put it is a cross-chain Oracle.
Problem: Blockchains are closed systems as we already know and need and can’t be used to solve problems where external data feed is totally in control of institutions & corporations.
Currently we have Oracles like Chainlink, DIA, API3 etc. with inherent limitations like:
- Ethereum transactions are expensive
- Not so scalable in real world practice
- No cross-chain communication
- No expressive ETL system and/or a query language
Real world data Ingress : Done by Paralink nodes and Paralink Query Language (PQL) -Query SQL databases, web APIs, scrap websites as well as get state from other chains. Deliver computational results via on-chain relayer quorums.
Paralink nodes and query language:
- Query APIs, other blockchains
- Parse JSON, XML, HTML & SQL
- Support for multiple data sources
- Apply math functions, type casting, aggregation (mean/median etc.), validation rules for min relayers and variance threshold
On-chain Security: Relayer quorums will get incentive or punishment accordingly as per correct or false reporting. They are self-organizing data repositories built on polkadot and able to communicate with other chains like Ethereum via relayer bridges. Reliability is monitored via public reputation systems.
- Interoperability -Cross-chain communication with other blockchains.
- Superior Speed -Heterogenous sharding with upto 1M TPS
- Shared Security -Secured by Polkadot POS relay chain
Blockchain applications of today are severely limited by the range of use cases they can serve. Each blockchain…
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