Paralink provides an open source and decentralized oracle platform for Polkadot, Ethereum, Binance Smart Chain and other popular blockchains.
Paralink provides data ingress for smart contracts. Create a bridge between real-world data and your smart contract in minutes. With Paralink you also avoid high costs of data ingress with other oracle solutions.
With Paralink Node Query Editor developers can quickly create price feed data ingress with multiple data points from different data providers.
Developers can use Paralink Node Query Editor to query an API for a sports match result. Such use cases are useful for everyone who requires data ingress for sports betting dapps or any other smart contract application where such data ingress type is needed.
Another great example of Paralink Node use are queries for prediction markets such as weather forecasts. Developers can use PQL to assemble complex queries from multiple weather data providers and aggregate data to their smart contracts.
Paralink is a real world data ingress oracle for cross chain applications. Its purpose is to collect, validate, aggregate and interpolate real-world datasets and feed them into smart contracts on Ethereum, Binance Smart Chain and Polkadot.
To satisfy all kinds of applications, Paralink offers 3 security models with different cost, convenience and security characteristics.
We have created the Paralink date ingress diagram, which is the topic of this article. Click here to see the explanation of what different parts represent.
This guide is for developers who wish to use Paralink as an oracle solution for their smart contracts, as well as for node operators who wish to provide a trusted oracle service or create their own oracle quorum.
Paralink Node is the backbone of the Paralink Network. Its responsible for sourcing information from real world data sources and across blockchains. Multiple data sources are supported, as well as aggregation and validation as defined in PQL pipelines.
PQL definitions represent ETL (extract, transform, load) piplines for sourcing, aggregating and validating information. They are the basis of oracle requests (jobs).
Paralink Token (PARA) is an incentive token used for on-chain coordination and governance.
The PARA token has a maximum supply of 1 billion (1,000,000,000).
PARA token is used to pay for gas costs of the callbacks onto 3rd party blockchains.
Adding PARA as a fee to a data request transaction is also an incentive mechanism for a particular quorum to prioritize the query.
Relayer quorums are self-organizing groups of Paralink Node operators, whose job is to service the data requests.
The quorum is governed by PARA token holders, which are also responsible for maintaining a top list of trusted relayer members.
Data providers can utilize Paralink Network to sell data and APIs to smart contract applications running on Ethereum, Binance Smart Chain, Polygon, Polkadot and other popular blockchains.
In this blog post, you can learn about the on-chain consensus mechanism concept.
We are excited to announce our next AMA! We want to provide as much information as we can, so make sure you submit your questions
We are excited to announce our next AMA! We want to provide as much information as we can, so make sure you submit your questions
Paralink Token (PARA) is an incentive and governance token on the Paralink blockchain. PARA holders will be able to stake their tokens to earn the governance rights. Amongst other things, their primary responsibility will be management of the relayer quorum through continuous voting. In exchange for staking their tokens and performing regular governance functions, they will earn APY on their staked amount.
Anyone can run the Paralink Node and serve as an oracle to DeFi smart contracts. Paralink oracle quorums are self-organizing, on-chain consensus networks for data streams that require higher degree of security. Relayer quorum is a set of nominated validators that perform the final oracle job validation and relay the results over bridges/xcmp. The relayer quorum is governed by PARA token holders.
The revenue of trusted oracles as well as on-chain oracle quorums is highly dependent on the reliability and accuracy of the data. Paralink network is a permisionless system, therefore free market forces will always ensure that the revenue is re-allocated from underperforming oracles to the competent ones. The on-chain aggregation and validation adds an additional layer of security and data integrity.
Gate.io serves as a bridge between ERC-20 (Ethereum) and BEP-20 (Binance Smart Chain) tokens. If you deposite ERC-20 type token you can withdraw BEP-20 token and vice-a-versa.
When saving the job definition using PQL, it gets saved to IPFS as a content hash. IPFS node is already a part of Paralink Node, and this functionality comes automatically.
The quickest way to start using Paralink Node is to visit our official Github page, specifically the paralink-node repository. We have created a Quick Start Guide that guides you through the installation steps.
You don’t need much, as the Paralink Node is very lightweight and optimized. All you need is for your computer to run Docker; thus, a minimum of 4GB RAM and a dual-core CPU is required.
The first thing you need to know about a smart contract is that it exists only electronically or digitally. So a more accurate term would be a digital smart contract. But what makes a contract “smart”?
When people hear about smart contracts for the first time, they think that these are traditional contracts that are somehow stored on a blockchain or the web. But this is not the case.
A smart contract is a piece of code with predefined rules of execution. These rules are constructed in “if-then” semantics. This means that a smart contract gets executed automatically when something happens that corresponds with predefined rules of the contract.
Meet the Paralink community.
Paralink community is dedicated to conversation about oracles & smart contracts.