PARSIQ, a blockchain monitoring and workflow automation platform, announced its partnership with Clover Finance, a smart contract platform enabling Ethereum protocols to migrate onto the Polkadot ecosystem.
The integration enables Clover’s multi-chain wallet to connect with other blockchains such as Ethereum, Polkadot, Kusama, Binance Smart Chain, Avalanche, Fantom, and Edgeware. According to the announcement, PARSIQ’s data infrastructure will be used for the Clover platform in a bid to broaden adoption of blockchain technology.
Clover’s peer-to-peer trading services provides DeFi users with trustless functionality and transaction anonymity through its 2WP (2-way Peg) consensus model. Clover is built on Polkadot’s Substrate framework, a heterogenous and sharded multi-chain protocol. As such, Clover leverages Polkadot’s parallel processing methods to significantly improve scalability while maintaining low gas fees and high-reliability trading across its suite of end-user offerings.
“The Ethereum Network was brilliant when released, but the scale it has grown to now has become a real issue for usage. Fees for using the network created barriers and solutions must be found, as the crypto space as a whole continues to grow. Clover offers a unique solution, paving the way for the next generation of solutions focusing on delivering a financial tool for the masses,” shared PARSIQ CEO Tom Tirman
PARSIQ operates a multi-level bridge between blockchains and off-chain applications. The firm developed its proprietary programming language, ParsiQL. With ParsiQL, the platform enables users to monitor and interpret data streams across multiple blockchains.
The partnership between PARSIQ and Clover Finance also involves an undisclosed amount of investment backing on the part of PARSIQ to support Clover’s development.
The firm also recently launched Flashr, its blockchain analytics and notification system. Flashr allows users to track significant transfers from a range of protocols, with alerts sent to a user’s Telegram inbox or a compliance team’s Slack workgroup. PARSIQ also has existing integrations with Zapier, WebHooks, and RabbitMQ.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.