Blockchain applications of today are severely limited by the range of use cases they can serve. Each blockchain application can only access the state via public interfaces on the same chain. Without access to the real world data, blockchains cannot be used for prediction markets, insurance, litigation, governance or any other coordination problem that is currently dependent on social institutions and corporations.
This is also known as an oracle problem. While many attempts at solving it have been made, the current solutions are too expensive and brittle to be useful at scale.
Sourcing the data is done by Paralink Nodes through Paralink Query Language (PQL). PQL allows one to query SQL databases, access web API's, scrape websites as well as access state from other blockchains. Additional robustness is achieved with PQL validation, aggregation and interpolation rules for merging information from different sources. The PQL definitions describe the ETL process to be executed by Paralink Nodes and are immutably stored and accessed via IPFS. This allows developers to add custom data sources and post-processing rules in a permissionless way.
Some data sources require more security than others. One such example are the real-time price feeds to be used in decentralized derivative and money markets, where any corruption in the price feeds can result in large financial losses. For this use case, a reputable quorum of relayers with on-chain coordination, validation and aggregation mechanisms is required. Performing such consensus algorithm at high frequency is prohibitively expensive on Ethereum due to low throughput and high gas costs. For this reason, Paralink on-chain consensus algorithm is being built using Polkadot and its Substrate stack.
Blockchains are purely deterministic state machines by necessity of a block-level consensus algorithm. This means that a native implementation of randomness to be used for luck based games is not possible. For this reason, Paralink provides a cryptographically signed hardware based entropy ingress. Public entropy samples will be provided on the daily basis for statistical analysis.
Realtime asset pricing
Paralink on-chain consensus enables secure and reliable price feeds.
Import real world data from official and 3rd party sources.
Source of entropy
Paralink entropy as a service provides hardware based randomness.
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.
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Grow the core team
Finalize protocol draft
ERC20 token on Ethereum
Integrate with Polkadot SC platforms
Partner network lockdrops
Launch a parachain on Rococo testnet
PARA staking and rewards
Deploy Paralink as parachain on Kusama network
Data stream reliability explorer
Quorums reputation tracking
Deploy Paralink as parachain on Polkadot
Polkadot <> Ethereum interop
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.
Polkadot is built to connect private and consortium chains, public and permissionless networks, oracles, and future technologies that are yet to be created. Polkadot facilitates an internet where independent blockchains can exchange information and transactions in a trustless way via the Polkadot relay chain.
Polkadot makes it easier than ever to create and connect decentralized applications, services, and institutions. By empowering innovators to build better solutions, we seek to free society from its reliance on a broken web where its large institutions can’t violate our trust.
We believe that Polkadot is the optimal platform for our protocol due to its fundamental design principles. Cross chain interoperability and scalability are the two key components for making Paralink secure, scalable and economically viable.
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.
Yes. Aside from the native token on Paralink blockchain we are also launching an ERC-20 token on Ethereum at TGE. The Ethereum token is great for interoperability with already established DeFi ecosystem, and will be convertible 1:1 with the native PARA token on Paralink chain.