Paralink Network PARAPrice $ 0.000262

Paralink Link is a real world data ingress for cross chain applications. Its purpose is to collect, validate, aggregates and interpolate real-world datasets and feed them into smart contracts on Ethereum and Polkadot.

Paralink's flexible node design allows developers to query data including real-world events, sports, weather, random numbers and more. Developers can create custom queries using Paralink Query Language and connect smart contracts with traditional web APIs within minutes.

Applications that require the highest degree of security can use Paralink on-chain consensus algorithm, running on Polkadot Substrate. This makes the coordination much cheaper than performing the same computation on Ethereum.

Paralink entropy as a service provides high quality hardware based randomness.

Why choose Paralink?

• Paralink Network offers a multi-chain oracle platform for DeFi and other blockchain applications. Paralink Node supports Ethereum and Plasm, with more networks coming soon.
• Applications that require the highest degree of security can use Paralink on-chain consensus algorithm, running on Polkadot Substrate.
• Accessing real-world data is easy with Paralink Query Language and a community maintained registry of PQL queries.
• Paralink entropy as a service provides high quality hardware based randomness.

Use Cases

Derivatives and money markets

REALTIME ASSET PRICING

• Paralink on-chain consensus enables secure and reliable price feeds

Prediction markets and insurance

OUTCOME RESOLUTION

• Import real world data from official and 3rd party sources.

Gambling and non-deterministic apps

SOURCE OF ENTROPY

• Paralink entropy as a service provides hardware based randomness.

Paralink Token

Paralink Token (PARA) is an incentive token used for on-chain coordination and governance.

Gas Costs & Ingress Incentives

• PARA is used to pay for gas costs of the callbacks onto 3rd party blockchains. The latest suggested gas price is available through the Paralink Gas Oracle.
• Adding PARA as a fee to a data request transaction is also an incentive mechanism for a particular quorum to prioritize the query.

Creating a Quorum of Relayers

• Relayer quorums are self-organizing groups of Paralink Node operators, who's job is to service the data requests. A quorum can be created by anyone, and its ownership rights are granted based on the amount of Paralink Tokens staked into the newly created quorum contract. The ownership is represented with QT's (quorum tokens), which are backwards convertible into Paralink Tokens on quorum dissolution.
• The quorum is therefore governed by QT holders, which are also responsible for maintaining a top list of trusted relayer members. All the revenue generated (in PARA) by the quorum is split between QT holders and relayers, as per the rules defined at quorum creation.