What is PARSIQ? A Quick Overview
You have probably heard about the PRQ token. You can conveniently trade it on our crypto exchange! But what is the bigger story behind PRQ? Let’s have a look at the entire ecosystem and find out what is PARSIQ!
How It All Got Started
Let’s take a step back and review the history of PARSIQ. The PRQ token contract was deployed on the Ethereum blockchain on September 21st 2019. The total supply was set at 500,000,000 tokens. By September 29th, PARSIQ had successfully raised 1,595,000 EUR through a private sale. Proceeding to that, they also did an IEO right here on CoinMetro!
Out of 250,000,000 total tokens offered, around 151,000,000 remained unsold. These tokens were sent to the retention wallet. Currently the actual circulating “free market” supply is around 100,809,872 tokens. Because less tokens were sold than we expected during the initial offering – balance between tokens circulating in the market and tokens held by the foundation changed.
The team behind PRQ is well committed to the project. To prove their long-term commitment, they decided to send most of the team and advisor tokens to the retention wallet. The funds will be locked there for 5 years.
What Is PARSIQ – an Introduction
The baseline for PARSIQ is its platform. In short, it offers a variety of blockchain monitoring tools and blockchain analytics tools across industries.
PARSIQ is the next-generation monitoring and intelligence platform for various blockchains. With PARSIQ, users gain access to a number of useful product features. For instance, users can track digital assets in real-time and get notified about occurrences around the blockchain network. They can also gather and process on-chain data and combine it with an off-chain one. Users can increase the efficiency of their blockchain transactions.
Every single blockchain activity that occurs on the platform results in a massive amount of information. All of this circulates through the PARSIQ Platform and activates various parts of it. Every product that belongs to the ecosystem has a particular processing subsystem of the platform standing behind it.
PARSIQ Token (PRQ) is also an essential piece of the PARSIQ platform. It co-exists with FIAT payments for using its services. When payments within the platform are made in PRQ tokens, they are guaranteed to a discounted rate.
Starting Q4 2020 every time a user consumes the platform’s services a random fraction of tokens will be sent to a special retention wallet where it will be locked for 5 years reducing the circulating supply to incentivize long-term supporters of the project.
Check out our article about the PRQ token to know more!
People Behind PARSIQ
PARSIQ is being led by experienced and highly qualified industry professionals that are passionate about blockchain. The ultimate goal of the team is to push forward the mass adoption of blockchain technology by providing the necessary solutions. They want to give everyone the ability to understand and manipulate blockchain data streams.
PARSIQ ecosystem is making it easier to integrate blockchain infrastructures into existing businesses. This gives users an additional layer of monitoring and automation for blockchain-specific asset management.
The team is led by CEO Tom Tirman. Tom has extensive experience in business and finance, having worked in both traditional banking institutions and fintech companies as well as having been an entrepreneur. While working in management positions in finance and operations departments, Tom accumulated a track record of building teams ground up and transforming existing teams to deliver exponential improvements.