The first smart contract with a live Mainnet EDGEWARE hosted Paralink Network CEO on AMA section this week and it revealed partnership between these two projects and the potential that lies between the strategic and investment partnership of these two projects to benefit the users and the community members..
Jan Knezevic, CEO of Paralink positioned himself through Shankar Warang the community manager for Edgeware to introduce his background in business and economics- more specifically he worked as an auditor for KPMG, an actuary in a life insurance company before transitioned into consulting blockchain projects with accounting and business development as well as conducting internal audits. In 2020 he was part of a team that acted as a data vendor for blockchain data, collected pricing, on-chain and sentiment data and created qualitative indicators for traders. Jan was also an active day and swing trader on the stock market trading stocks and stock options and later on transitioned into trading cryptocurrencies.
What is Paralink?
Paralink is a multi-chain oracle platform with a decision to build it on Polkadot. The decision was made in Q2 of 2020 after looking at other oracle solutions and seeing that the technology stack they are built on isn’t sufficient for providing a stable and resilient service. The focus is to achieve higher throughput and add sufficiently expressive ETL systems and an advanced querying language which were lacking in the current solutions. Now for a quick summary. First of all, the real-world data ingress is done by Paralink Nodes through Paralink Query Langauge-PQL. This allows one to query SQL databases, access web APIs, scrape websites as well as access state from other blockchains. It's a robust solution that is easily extendible to support custom data sources (actually right there is an issue with the existing solutions since the technical barrier to creating a custom data source is high and takes forever). Besides the data, there is support for post-processing in a permissionless way via on-chain relayer quorums as well as reliable channelling of the computation results via PQL callbacks. The next aspect of the project is the Paralink node and its query language. With it, you will be able to query APIs. databases but also parse JSON, XML and HTML, support multiple data sources, apply math functions, do typecasting, aggregations and much more. The last point which is extremely important is the On-chain security as well as the integrity of this data. This is a huge challenge and so far it hasn't been solved properly. So in Paralink, Relayer quorums serve as self-organizing data repositories with reward token mechanics (as well as slashing off course) that aggregate and validate real-world information. Paralink infrastructure is built with Substrate which means it gets high throughput and economically feasible computing costs. Due to this technology stack, Paralik can relay computation results from Polkadot to other chains as well, but also monitor reliability via public reputation systems. This was a piece of very notable information shared by the CEO.
Now, let's see through the vision of Edgeware as Thom Ivy, Chief of Staff of Commonwealth Labs and Director of Edgeware Agency shared this with the community.
Edgeware Vision Statement
Thom Ivy has tasted legislative job in US (Michigan state legislature) even been one of the early adopters of Bitcoin in 2011/12 (playing blackjack, mt. Gox) and found the process terribly corrupt and ridiculous, politically, this experience made him start working on technology that helps disintermediate governance and that’s how he came to be with Commonwealth Labs and to work on Edgeware.
Over the past two years, planning Edgeware growth, making sure the lock drop was successful, and presently his position is to help ensure community operations and management goes smoothly, specifically representing the interests of all Edgeware stakeholders through Edgeware Agency, helping to create a polyculture space where many organizations and cultures can determine the future of Edgeware commons or the public goods of the infrastructure of this incredible contract platform world we now live in and he hopes to achieve something like the ‘network state,’ one day.
Jan Knezevic shared with Edgeware community the Paralink Node through a fully supported Edgeware Network. He also mentioned testing and validating an open-source WASM based oracle that will use Edgeware's native currency (EDG token) for fees and making it seamless for integration. Once the Edgeware integration in Paralink Node is complete, Edgeware DeFi apps can start deploying the oracle for cross-chain asset pricing and real-world data ingress needs. Paralink Network’s main feature is the flexibility and ease of use through PQL which is essentially a JSON definition of the logic to obtain the data for the oracle. He also claimed that Paralink Network offers support for a wide variety of data sources, such as HTTP API's, SQL, GraphQL and other blockchains smart contract state, with Paralink Node.
To further reveal the partnership information, Thom (COS) compliment Paralink substrate-native oracle tech and their unique query language. He said, one of Edgeware goals at the Agency is to reduce the costs of development both in time and effort, and Dev UX features like Paralink’s are a priority. He claimed that, when Edgeware contracts and devs call on Paralink’ data feeds, there is the use of EDG (Edgeware native token) instead of other coins or tokens. Again— ease of use and native fluidity. Lastly, oracle tech like Paralink is essential for our next big challenge in Edgeware: enabling a robust framework for creative development, and also the groundwork for a robust defi ecosystem.
In conclusion, Edgware is being a project built on Parity Substrate with a framework for creating new blockchains derived, the substrate implements nearly all the code necessary to launch a working blockchain, including libp2p networking, a WebAssembly runtime, PBFT consensus, and clients for running nodes and proof-of-stake validators. It will be cool to join the community, network, and share your project or idea with the team, Edgeware have tools to support you.