The cryptocurrency world is ablaze with scandal after recently discovered instances of hacks, security breaches, and missing or stolen digital assets. Quadriga, Coinomi, and Cryptopia users have all found themselves added to an ever-growing list of victims due to cryptocurrency malfeasance. However, with the introduction of PARSIQ’s blockchain intelligence platform for securing cryptocurrency assets, the buck stops here.
PARSIQ monitors blockchains in real-time using a modular suite of high-performance tools for securing wallets, creating custom alerts for blockchain events, tracking digital assets, and parsing blockchain data. Today, there are over 139 million blockchain user accounts and wallets now active — protecting those accounts and their assets is more important than ever. Using PARSIQ Protect to secure crypto wallets, for instance, investors and exchanges alike can receive instant notifications the moment an unauthorized transaction takes place. With the same tool, those assets can be tracked, and service providers notified, giving them an incentive to blacklist those assets and prevent their sale.
In light of the ongoing string of epic cryptocurrency thefts (over $1 billion worth of crypto stolen in 2018 alone), the need for blockchain analytics can’t be overstated. Coinbase, one of the world’s largest crypto exchanges, recently acquired Neutrino, a blockchain analytics firm, underscoring the fact that analytics startups are quickly becoming hot property. The problem with the current batch of analysis groups like Neutrino and Chainalysis, however, is that unlike Parsiq, they’re heavily centralized, and don’t offer real-time blockchain solutions to both enterprise and retail users.
Owing to its singular architecture which combines a centralized backend with decentralized blockchain monitoring nodes, PARSIQ is uniquely positioned as the only community-driven blockchain intelligence platform in the crypto industry. That singularity has gone over well with investors as PARSIQ closed its seed round in 2018 and is currently in its “Series A” round of funding.
It isn’t only investors who see the value in PARSIQ’s mission to bring trust, security, and compliance to blockchain. The European Crypto Association (ECA), of which Parsiq is a part of, is aiming to foster a dialogue on behalf of the crypto industry for compliance standards that will finally put an end to the current crypto Wild West era — where rules are scarce, and criminal conduct is rampant.
PARSIQ’s modularity allows it to fill in the gaps where compliance is concerned. For instance, using PARSIQ’s Protect and Asset Tracking modules, exchanges can detect illegal or otherwise illicit activity and prevent it, creating a safer and more robust security paradigm for crypto markets.
Milestone innovations such as Smart Triggers are in large part what give Parsiq the upper-hand against criminal activity on the blockchain. With Smart Triggers, users can create a database containing descriptions of the assets being watched, such as a list of addresses to monitor. After populating the database with details, Smart Triggers can be used for a wide range of monitoring and notification applications, such as:
1. Assets being withdrawn from a certain address
2. Assets being sent to a specified address
3. High-frequency of transactions to and from exchanges
4. Asset transfers above a specific threshold
5. Interactions with a particular smart contract
6. High gas transactions that may indicate front-running
The preceding examples are a small preview of what Smart Triggers are capable of, but their power is undeniable. The recent Quadriga exchange scandal has made front page headlines around the world as over $100 million in customer funds went missing from an array of wallets. Had users, investors, or regulatory bodies deployed PARSIQ’s array of tools, such as Smart Triggers, to monitor Quadriga’s asset movements, red flag notifications would have issued as the movements happened, allowing exchanges to blacklist the assets in question — and, stop them dead in their tracks.
Despite being localized in European markets, PARSIQ will soon expand its operations outside of the EU in tandem with the release of some of its solutions in an MVP offering. To learn more about how PARSIQ secures blockchains, enables compliance measures in the crypto industry, and provides omniscient market intelligence, visit www.parsiq.io or join the discussion below.
Website — https://www.parsiq.io
Twitter — https://twitter.com/parsiq_io
LinkedIn — https://www.linkedin.com/company/parsiq/
Facebook — https://www.facebook.com/Parsiq-230079557705047/
Medium — https://medium.com/parsiq
Authors Name
Anastasia (PARSIQ)
Company Name
PARSIQ
You may also like
According to eToro senior market analyst Mati Greenspan, bitcoin is in amidst a parabolic bull cycle and is on track to sustain its strong momentum over the medium to long term.
Since January, within less than six months, the bitcoin price has increased by nearly 100 percent against the U.S. dollar.
With a 98% gain year-to-date, bitcoin has outperformed most assets in 2019
(source: coinmarketcap.com)
Still, despite its large short-term rally, Greenspan noted that the dominant cryptocurrency is only at the start of a bigger cycle that may lead to new highs for the asset.
WHY INDUSTRY EXECUTIVES ARE SO OPTIMISTIC IN BITCOIN
In December 2018, the bitcoin price dropped to its lowest yearly point at $3,150. At the time, even though the industry had demonstrated significant progress in improving the infrastructure supporting the asset class, the sentiment around…
World’s third largest cryptocurrency Ripple (XRP) has appreciated up to 31-percent against the US dollar in just two days.
The XRP-to-dollar exchange rate Tuesday established an intraday high towards $0.405, up 25.05% since the market open on Luxembourg-based Bitstamp exchange. The pair dropped as much as 5.05-percent ahead of the European session to neutralize its overbought sentiments, finding interim support at $0.384-level.
RIPPLE (XRP) SURGES 25% IN A DAY | SOURCE: TRADINGVIEW.COM, BITSTAMP
The sentiment was the same across the rest of the cryptocurrency index, with almost all the leading cryptocurrency posting surplus intraday gains. Bitcoin (BTC), for instance, extended its rally action to establish a new 2019 peak towards $8,836.19. Ethereum, EOS, and Bitcoin Cash too recorded double-digit percentage gains on a 24-hour adjusted timeframe.
The cryptocurrencies’ breakout action further came with a rise…
The crypto market has made a spectacular return as it added $28 billion in the past 48 hours. The bitcoin price surged past $7,400 and hit a new 2019 high, marking the start of a new bull market.
In many major markets, the volume of bitcoin has returned to the late 2017 level with the “real 10” daily spot volume of bitcoin surpassing $1.9 billion.
The bitcon price hit a new 2019 high after surging over $7,500
The “real 10” volume calculates the daily volume of BTC using ten exchanges that have more than $1 million in legitimate volume. In March, the “real 10” volume was estimated to be around $270 million.
WHY IS BITCOIN PRICE (BTC) RISING SO RAPIDLY?
Alex Krüger, a global markets analyst, said that the recent rally of BTC was initiated without the involvement…
Bitcoin News
News
Calvin Ayre Interview : Courts Could Rule On “Consumer Fraud” Of Cryptos That Claim To Be Bitcoin..
In this video interview, CoinGeek owner Calvin Ayre talks with Charles Miller about the far-reaching implications of the pending court cases filed by nChain Chief Scientist Dr. Craig Wright on the cryptocurrency industry.
Share your thoughts and views on this interview by commenting below
Cryptocurrency
News
Facebook is Pro-Crypto: Social Media Giant Lifts Ban on Cryptocurrency and Blockchain Ads
Facebook, the largest social media giant, made news after it announced that it would launch its own cryptocurrency, Facebook Coin. It was also rumoured that Facebook was looking out for VC firms to invest in their cryptocurrency project, with the targeted sum being “as much as $1 billion.”
Now, according to an official announcement, Facebook is going to lift its ban on cryptocurrency and blockchain related ads on its platform.
The facebook statement read :
“Starting 5 June, we will update our Prohibited Financial Products and Services Policy to no longer allow ads promoting contracts for difference [CFDs], complex financial products that are often associated with predatory behaviour. These products, due to their complexity, often mislead people.”
Facebook had implemented the ban on cryptocurrency ads and promotional campaigns related to blockchains and ICOs back in January 2018. It was believed that the ban was to tackle concerns…
Craig Wright, a man who, as WIRED wrote about back in 2016, either created Bitcoin or very badly wants someone to believe he did.
Now rumours are swirling through the Bitcoin world that Wright himself is poised to publicly claim—and possibly offer some sort of proof—that he really is Satoshi Nakamoto, the mysterious inventor of Bitcoin. If he does, he’ll have to convince a highly skeptical cryptography community for whom “proof” is a serious word, and one that requires cryptographic levels of certainty.
The suggestion is that Wright, an Australian cryptographer and security professional, has arranged to perform a demonstration for media in London sometime in the next week that’s intended to convince the world he’s bitcoin’s creator.1 Luckily for any legitimate claimant to the Satoshi throne—and for bitcoiners tired of the long succession of unproven candidates and speculation—there are some clear, almost incontrovertible ways for Satoshi Nakamoto to prove himself. When…
