Understanding the Issues
Imagine a world without language, it would be a hostile and difficult world to say the least. No exchange of information and no possibility of using any sort of learned foreign knowledge to your advantage. Seems like in a world like that, countries, provinces, states, cities, and individuals would truly know the meaning of the word isolated. Thankfully, however, language does exist and the free flow of information with one another has allowed for countless possibilities.
While a world without language seems unfathomable it’s not so far off from what we have seen within the advent of blockchain technology. While blockchains have many applications and work well for their desired purpose, when it comes to exchanging information with one another, this technology sadly falls short. The very mechanism that makes them safe and useful is the same mechanism that limits them from doing so much more.
Real-time Asset Pricing
Trade has been at the heart of all human civilization and it’s no secret the world runs, and thrives, on the trading of numerous assets. When blockchains can talk to each other incredibly valuable real-time information can be utilized to convey an accurate and reliable value of an asset to further aid buyers and sellers in acquiring those assets.
The insights that come from large quantities of compiled data can be immeasurably valuable and when accessed in real time they can serve almost as a superpower. On the Paralink network, an on-chain consensus enables exactly this capability.
Prediction Markets and Insurance
Utilizing the power of data aggregation means you can import and organize untold quantities of real-world data from almost anywhere to predict future outcomes. With applications for economics, trading, currency, and so much more, new insights are within reach like never before.
When a random value is needed, the source of that value needs to be trusted. Otherwise, a random pick could be manipulated for a desired outcome. To ensure a truly random value a trustworthy source becomes critically necessary.
When it comes to providing absolutely random values that can aid in gambling or non-deterministic applications, the unique design of the Paralink network can deliver values where trusted randomization is required.
These are just a few use cases for Paralink, stay tuned for much more.