PARSIQ is a monitoring tool for blockchain

Robert Sole 20 June, 2019

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Table of Contents

PARSIQ launches the universal blockchain analysis and monitoring tool that allows you to see the movements and transactions within any cryptocurrency

Both Bitcoin and the transactions on its blockchain, as well as alternative cryptocurrencies (Altcoins), tend to be much more traceable than assumed. Data and transactions on the blockchain are publicly readable by everyone. Transactions, by the nature of the network, are interconnected and create “routes” between each other. PARSIQ is a universal blockchain analysis and monitoring tool that sees the light of day at a time when data is flooding the internet.

The tool provides an analytical view of the history of blockchain transactions. Providing ease and speed when analyzing massive correlated data. Taking into account the growth of the sector, tools related to data management and analysis are essential. The tool is not limited to scanning the network and creating a simple list, it also provides real-time monitoring of accounts, transactions, and other issues related to the blockchain.

These include advanced transaction tree processing and analysis using large data; analytical techniques and machine learning algorithms provide detailed information on asset movements on blockchains. The platform will eventually work for multiple chains, and implements a modular design intended to provide varied applications for multiple use cases. At its core, PARSIQ is designed as an open, accessible and extensible platform system; therefore, providing an appropriate approach to network scalability in terms of processing and analysis is key.

What services does the PARSIQ universal tool cover?

PARSIQ addresses the lack of easy monitoring and analysis tools for the conventional and expert user. Providing a complete blockchain analysis platform with user and institution-oriented functions. The system is implemented as a mix of centralized and distributed systems that combine high performance transaction monitoring and analysis; providing a processing service with decentralized monitoring in real time of both confirmed and unconfirmed transactions.

At a deeper and more basic level, it monitors blockchains separately in real time; providing through virtual instruments (machines that can classify transactions) filters and comparisons of different factors or events.

The result of analysis and monitoring can be used for forensic and analytical purposes or as triggers for user-specific real-time monitoring services. We have witnessed data market launches, news with scandals about massive purchases, losses or even data theft. With the launch of PARSIQ, the analysis and monitoring of data related to cryptographic transactions finds a new competitor with cutting-edge technology. The uses for which the PARSIQ ecosystem is designed vary depending on the user or institution; For this reason, it has been designed based on the necessary versatility, encompassing a complete menu of use cases. We expose them below.

Real-time monitoring and notifications of blockchains
AML / AML compliance solutions
Cryptocurrency market intelligence and tokens
Blockchain forensic analytics
Enhanced security solutions

In short, PARSIQ is the new next generation platform for blockchain monitoring and intelligence.

The global context in which the universal PARSIQ tool was born

The set of tools presented suggests solving problems of insufficiency in terms of supervision and analysis. All this, with a development focused on the availability of tools adapted to the existing and new ecosystems of cryptocurrencies and tokens. In terms of management, the ability to analyze and manage the data will provide the simplicity required in the reorganization of the patrimonial and financial infrastructures of the users. Obviously nowadays these kinds of tools are traded privately. What makes them more expensive and therefore they end up under the control of great fortunes, corporations or political entities. In short, they are difficult to access and end up under the control of centralized giants.

As a result, the proliferation of the adoption of cryptography has led to the change from centralized networks to networks with a decentralized, open, free and neutral structure. So it frees the need for a trusted third party. The documentation displayed on its website reveals that PARSIQ is capable of generating information on digital assets and the architectures of the most difficult transactions to monitor.

The blockchains more focused on privacy have their advanced pseudo-anonymity systems; and block explorers are often simple or limited when it comes to large analytics by untrained users or non-specialist entities. PARSIQ provides a new support ecosystem for monitoring and analysis tools available to everyone.

PARSIQ is attending Blockchain Expo 2019 in Amsterdam as a bronze sponsor . Anatoly Ressin (co-founder) and Hendrik Henrikson (CBDO) will represent the platform.

Key features of the PARSIQ platform

The key features of the platform are listed in the official documentation. We can find a Whitepaper (White Book) and its short version (One-Pager) in which a complete breakdown of the technical part is made; we have extracted the following section:

Smart Triggers

Smart triggers redefine the way PARSIQ users can monitor the status of the blockchain in real time. Using the platform's native programming language, ParsiQL.

Crypto alarms 24/7

Configurable notifications and programmable actions allow users to react in time to any type of event of their interest in blockchains.

Continuous audit for legal compliance

Continuous auditing helps blockchains to track compliance with market rules and regulations. Offering the integrity claimed in adoption matters.

Retrospective analysis

PARSIQ allows users to reproduce any part of the blockchain in order to collect information on previous states. Playing any time in the past.

Geographic distribution of the infrastructure

The technologically advanced infrastructure of the platform is distributed in several global locations; this is done with the purpose of achieving the minimum delay in synchronization with any blockchain. Offering excellent response times.

Real-time feature extraction

During the blockchain monitoring process, specific characteristics are collected and added for analysis, monitoring and pattern formation. Offering real-time data management without the need for long waits.

To keep up to date with new updates about the project, you can subscribe to the mailing list or follow the project's social profiles. We share official links below.