Paralink is excited to partner with Deficliq and support their integration to Paralink Nodes. Deficliq is the first project to provide both collateralized and uncollateralized loans in both p2p and traditional ways.
Paralink is addressing one of the most critical issues in the Blockchain space today – the connectivity between Real World and Smart Contracts. Paralink is a parachain with oracle quorums for Polkadot, providing reliable and trustworthy data sources to other parachains, such as real-time price feeds for decentralized markets.
Through this collaboration, Paralink’s oracles will be integrated with Deficliq’s platform to ensure the accuracy of data sources obtained by its smart contracts. The on-chain consensus algorithm of Paralink provides a high level accuracy of data that will ensure exceptional reliability in the platform.
Multi-chain Oracle integration for Privacy Protocol
Paralink may be seen as a data aggregator, as well as a multi-chain oracle platform that plays a significant role in collecting, interpolating and validating Real World data sets and injecting them into the Smart Contracts on platforms like Ethereum as well as Polkadot.
Without accurate, reliable and decentralized data feeds, blockchain applications such as prediction and derivatives markets cannot perform calculated actions as any corruption in price and data feeds can result in large financial losses. Paralink aims to solve this with its multichain oracles.
Deficliq is a leading competitor in the fintech space and the first company on the market to offer both collateralized and uncollateralized loans, This means Deficliq offers investors the possibility to diversify and distribute their risks over multiple tiers. However, to fully ensure the efficiency and security of the platform, it is necessary to have accurate and reliable price feeds. Otherwise, there could be significant financial losses.
This partnership with Paralink will ensure that the real-time data feeds obtained by Deficliq are accurate and reliable. Not only will this increase the efficiency of the platform but steer it towards wider adoption.
Deficliq’s mission is to democratize the lending market. A Polkadot Substrate Project, Deficliq is the first company to provide both collateralized and uncollateralized loans through both p2p and traditional ways, with features like DAO(off chain governance), Staking, Interoperability.
Paralink Network offers a multi-chain oracle platform for DeFi and other blockchain applications. Applications that require the highest degree of security can use Paralink’s on-chain consensus algorithm, running on Polkadot Substrate. Paralink’s flexible node design allows developers to query for real-world events, sports, weather, random numbers and more. Developers can create custom queries using Paralink Query Language and connect smart contracts with traditional APIs within minutes.
Telegram Announcements: https://t.me/paralinkannouncements
Paralink Litepaper: https://docs.paralink.network/whitepaper/summary.html