What is PARSIQ (PRQ)?
PARSIQ is a multichain protocol for blockchain analysis that provides users with a parsing and monitoring tool. With this next-generation platform, individuals, companies, and enterprises can track blockchain network activities in real time and create instant notifications. To track events on the blockchain and link them to off-chain systems, PARSIQ sits between blockchain applications and those systems.
PRQ is a utility token of the PARSIQ ecosystem. PARSIQ token runs on the Ethereum blockchain. It supports nearly all significant activities on the PARSIQ protocol. If you care to see the live PRQ price, check out the PARSIQ price chart above.
The PARSIQ crypto project offers many services, including wallet protection, asset tracing, market intelligence, forensics, and scoring systems.
So, how does PARSIQ work? In essence, it uses various built-in features to monitor activities on the blockchain network. For starters, the system uses smart triggers and trigger wizards to alert the user in case of any suspicious activity. For example, the PARSIQ's alarm system will alert you of an unauthorized transaction in your wallet. Furthermore, the asset tracing tool can analyze blockchain data and let you know where the stolen assets went. Besides that, the system can monitor smart contracts to help prevent attacks.
Overall, PARSIQ can help traders analyze and understand market trends, or it can be deployed in forensics services, such as research, law enforcement, and security.
Who Founded PARSIQ?
PARSIQ’s co-founders are Tom Tirman, Anatoly Ressin, and Andre Kalinowski. The team has vast experience in fintech, cybersecurity, forensics, and blockchain. Tirman, the current CEO, adds to the team's experience in fintech, having worked in banking firms and fintech companies. On the other hand, Kalinowski is a certified engineer specializing in cybersecurity and digital forensics. Lastly, Ressin is the chief blockchain architect who previously founded a software development company called Blockvis.
Use Cases of PRQ Tokens
PARSIQ coin is a utility token that allows users to access all services on the PARSIQ ecosystem. Also, token holders can lend their PRQ assets to pools in order to generate rewards.
Besides that, PARSIQ token holders play a role in the governance process of the PARSIQ DAO. This role includes voting on product integrations and managing the DAO treasury.
Lastly, the PRQ token can be used as a store of value. You can earn profit simply by holding the tokens as the PARSIQ price increases. However, it is important to note that crypto assets are highly volatile, and many factors can influence their prices. To see the current PRQ price, check out its chart above.
Tokenomics of PRQ
PARSIQ has a maximum supply of 500 million tokens. The project conducted an initial exchange offering (IEO) with a hard cap set at 250 million tokens. However, only about 100 million PARSIQ tokens were sold. The remaining 150 million were sent to the retention wallet.