PARSIQ (PRQ) (3 Part) The Risks of Buying PRQ There's no gu | Crypto Great | Bitcoin | DeFi
PARSIQ (PRQ) (3 Part)
The Risks of Buying PRQ
There's no guarantee PARSIQ will be able to accomplish its goals, and having paying customers is crucial for long-term success. If PARSIQ fails to gain a sizeable userbase, demand for the tokens may never materialize.
To date, 105 million of a total 500 million possible tokens are circulating in the marketplace. The team hasn't disclosed a public plan for the remaining tokens. That raises some concerns around dilution, but we believe PARSIQ will likely use the tokens as incentives to foster adoption instead of dumping tokens into the market, which would punish early adopters.
PARSIQ also has competition. Its competitors, like Bitquery and the Graph, also give users the ability to act on blockchain-based data, but they take a different approach. They allow you to act on events that happened in the past. PARSIQ allows you to interact with events in real time. Simply put, the competition allows you to pull data and then trigger an action while PARSIQ pushes the data that triggers an action.
It's much too early to rule on whether PARSIQ's method of monitoring addresses and contracts in real time or its competitors' method of querying blockchains like databases will win the overall market. But over the next 12 to 24 months, we expect to see both approaches appeal to different userbases.
How Big Could PARSIQ Get?
PARSIQ is a blockchain-to-everything platform, turning data into actions. Anyone can easily create their own monitoring and automation solutions. You can even build applications that incorporate PARSIQ triggers.
In short, PARSIQ solves the problem of connectivity between the isolated decentralized chains and the centralized databases that most of the world uses on a daily basis.
When you add together data for everything that anyone can use on a daily basis, you see the possible value of triggers. Blockchain oracles like LINK, BAND, and TRB combined have a market cap approaching $14 billion. But they only handle the real-world-to-blockchain half of a transaction.
PARSIQ's trigger technology handles the blockchain-to-real-world half. As the world wakes up to how important triggers are over the next 12 months, PRQ could quickly rocket from its $175 million market cap, as we write, to surpass BAND at $329 million. That's an easy twofold increase.
But PARSIQ is also working on reverse triggers. That means PARSIQ will be able to offer the entire cycle of real-world data moving on-chain and then triggering off-chain events. Successfully launching reverse triggers would put PARSIQ on par with the Graph – a top 60 crypto – and could send PRQ soaring to a $2 billion market cap... an 11-fold increase.
