Blockchain Monitoring Platform PARSIQ Adds Bitcoin Network

News | January 8, 2020 By:

Blockchain monitoring and intelligence platform PARSIQ has expanded its monitoring solution onto the bitcoin network.

PARSIQ offers comprehensive tools for analyzing, detecting, and preventing cryptocurrency fraud and other illicit activities on the blockchain. The firm’s solution claims to be the first blockchain monitoring platform that allows users to set up Smart Triggers that react to events on the blockchain in real-time using its blockchain stream manipulation language, ParsiQL. The monitoring solution addresses the fundamental complexity of analyzing multiple blockchains in real-time.

In a press release, PARSIQ said that it has now expanded its blockchain monitoring platform to include bitcoin, enabling users to analyse the inner-workings and transactions of the world’s largest and most liquid cryptocurrency, and its 37 forks, in real-time. The company had previously added capabilities to monitor the Ethereum network, allowing analysis of over 200,000 ERC- 20 tokens, as well as ETH itself.

Andre Kalinowski, co-founder of PARSIQ, said that the crypto revolution was designed to bring greater transparency to financial markets and data-driven systems.

“While popular blockchains have delivered on that promise, there’s still progress to be made,” Kalinowski said. “The size and trading volume of popular cryptos like bitcoin and Ethereum makes them difficult to analyze and draw insights from. There’s a clear gap in the market now for specialized tools that enable monitoring and analysis of these networks. However, with our latest platform, we have the ability to scale our monitoring to all 37 bitcoin forks and the thousands of Ethereum-based ERC-20 tokens that have been created. With cross-chain monitoring abilities, we can set up sophisticated triggers for advanced users, such as traders or cryptocurrency exchanges.”

The PARSIQ monitoring solution is already being used by hardware wallet solution BC Vault for it’s cold wallet device.

“BC Vault is the most comprehensive and powerful hardware crypto wallet currently available on the market,” said Dmitry Fedotov, business development director at BC Vault. “Our collaboration with PARSIQ enhances our product and gives us a competitive advantage in the market. No other cold wallet provider has the ability to provide real-time notifications and transaction analysis to their users.”