Tag: Binance Smart Chain

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Peer-to-Peer Internet ThreeFold Goes Multichain to Accelerate Token Accessibility

Press Release: Peer-to-peer internet ThreeFold integrates with several popular blockchain ecosystems in an effort to increase adoption for the world’s largest such network

 

29th April 2021, Dubai, United Arab Emirates – ThreeFold plans to integrate its peer-to-peer internet platform with three of the leading blockchain ecosystems in the decentralized finance (DeFi) space; Binance Smart Chain (BSC), Ethereum, and Huobi’s ECO Chain. 

 

ThreeFold is set to integrate BSC in the next couple of weeks, with Ethereum and Huobi’s ECO Chain following shortly later on in Q2. These integrations will provide the ThreeFold ecosystem access to a wide array of DeFi applications. In turn, this will allow ThreeFold to be more accessible to the DeFi world and provide ThreeFold Farmers and users with more platforms to exchange TFT.

 

ThreeFold’s bold move comes while the wider cryptocurrency market is booming. The total value of all cryptocurrency-related or blockchain-based projects has surpassed $2.1 trillion in recent weeks, as market leaders, such as Bitcoin and Ethereum, set new all-time highs. Accordingly, interest in blockchain technology is soaring as the number of active projects in the space nears 9,000. 

 

Moreover, in an environment in which internet use for all aspects of life is soaring owing to COVID-19 restrictions, ThreeFold’s main value proposition  – a truly peer-to-peer internet platform – is gaining traction. ThreeFold sees the sustainability of internet services in the long run and its decentralization as inseparable.  

 

Democratizing the Internet 

 

But why is this needed? The internet today is hosted by a small group of well-resourced companies that are responsible for the maintenance of data centres which provide the server and storage space for the vast quantity of content on the internet. In addition, these same companies are finding a way to monopolize the network connections that allow data to flow around the globe. 

 

As a result, decisions made by these companies have the power to entirely change the landscape of the internet unilaterally, without contest. Given the fact that the internet is now integral to much of the world’s industry, as well as many ways of life, the disproportionate power that these companies wield makes them the de facto governors of the future of humanity’s development. 

 

Just as Satoshi Nakamoto envisioned the democratization of the financial system through decentralization, ThreeFold is on a similar quest to democratize the internet with a unique combination of autonomous and blockchain technology. The benefits would be clear. More internet users would benefit from a neutral peer-to-peer platform on which to store their data and run their applications privately and securely.. Moreover, decentralization removes the internet’s singular potential points of failure which could seriously disrupt the global Internet and Cloud industry. 

 

A Multichain Future

 

ThreeFold’s upcoming integration with BSC, Ethereum, and Huobi’s ECO Chain is a critical part of continuing to grow and cultivate the world’s largest peer-to-peer internet platform. Ethereum is the number one platform for decentralized applications (dApps) in the cryptocurrency and blockchain space as of today. 

 

Accordingly, ThreeFold’s platform will be put on the radar of the vast number of Ethereum users who could quite effortlessly become the much-needed nodes in its vision of a decentralized internet. Furthermore, there is a wealth of decentralized development expertise concentrated in the Ethereum-sphere, as well as in both Binance’s and Huobi’s blockchain ecosystems. In addition to improving compatibility with these platforms, ThreeFold will be able to tap into these development skills, inviting experienced dApp developers to build their applications on top of the ThreeFold Grid.

 

Comparatively, ThreeFold’s ambitious integration plans put it far ahead of similar projects in the decentralized internet space, which are traditionally Ethereum-based. However, with the increasing cost of Ethereum-based development and its slower than required scalability updates, ThreeFold’s peer-to-peer Internet will remain affordable, scalable, and simple for developers. 

 

About ThreeFold 

 

ThreeFold is developing a peer-to-peer internet platform that aims to liberalize what it labels as a centralized and unequally distributed internet. Its platform, called the ThreeFold Grid, comprises over +600 servers in 25+ different countries around the world, delivering approximately 80 PB in storage and over 16,000 CPU cores worldwide, making it the largest storage and compute peer-to-peer internet network in the world. See ThreeFold Grid’s statistics in more detail using their explorer here. 

 

Each server runs ThreeFold’s stateless and lightweight open-source operating system, Zero-OS, and is set up and operated by independent individuals and organizations called Farmers. Farmers earn rewards in TFT – the platform’s native token – for their participation. TFT is the currency of the ThreeFold Grid, with each token representing a unit of storage and compute on the platform. Grid users can use these tokens to reserve the storage and compute they need to store, build and share on the platform’s internet network.

 

ThreeFold’s ultimate vision is to be part of the movement to fully democratize the internet worldwide. 

 

To learn more about how ThreeFold plans to democratize the internet, visit their website here. For more information on TFT and how it fits into ThreeFold’s overall plans, see this page. 

 

Follow ThreeFold on Twitter: https://twitter.com/threefold_io 

Read ThreeFold’s documentation on Github: https://github.com/threefoldfoundation 

Like ThreeFold’s page on Facebook: https://www.facebook.com/threefold.io 

 

Media Contact Details 

Contact Name: Amazix Press Team 

Contact Email: [email protected] 

THREEFOLD is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

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PARSIQ’s IQ Protocol Launches, Powering the Tokenized-SaaS Ecosystem of the Future

Press Release: PARSIQ launches its highly anticipated IQ Protocol – the first risk-free collateral-less decentralized finance protocol built specifically for the Software-as-a-Service (SaaS) market. 

 

31st March 2021, Tallinn, Estonia – PARSIQ has launched their revolutionary IQ Protocol on testnet (Ethereum) – a decentralized finance (DeFi) solution for the SaaS market. IQ Protocol is the world’s first risk-free, collateral-less DeFi protocol to tokenize SaaS subscriptions in the DeFi space with a circular economy. IQ Protocol features several standard DeFi services, including staking, lending, and borrowing. 

 

The launch marks PARSIQ’s official entry into the DeFi space. If the testnet release is successful, IQ Protocol’s mainnet is scheduled to launch in Q2 this year, and the team already has interest from several DeFi projects. Furthermore, the PARSIQ team is considering launching the mainnet on several other chains, including Binance Smart Chain (BSC), and Solana (SOL), with which PARSIQ has already integrated.

IQ Protocol & Power Tokens 

The IQ Protocol brings a new perspective to DeFi solutions for the mainstream environment. Not only is the maintenance of the protocol’s network fully-trustless, but the protocol itself is open-source. Additionally, PARSIQ’s innovative decision to remove the requirement of collateral to participate in or build on IQ is another first for the DeFi space, nullifying the risks associated with DeFi participation.

 

IQ Protocol also takes an innovative approach to token utility through the introduction of Power Tokens. Unlike conventional utility tokens which represent a fixed amount of utility, Power Tokens generate utility over time. Therefore, holders of Power Tokens “subscribe” to utility rather than possessing a fixed quantity.

 

For example, the conventional “tomato token” would represent rights to collect 1 kg of tomatoes, whereas a Power “tomato token” (with weekly flow and expiry in 1 year) would represent a right to collect 1 kg of tomatoes per week for a year.

 

Power Tokens are housed in a “Power Enterprise” – a series of smart contracts which aggregate several IQ Protocol features, including governance, funding, and the ability to mint new Power Tokens.

 

The shift to a subscription-first model provides huge performance benefits for blockchain-based networks including off-loading a significant load of transactions away from the main-chain. And in the best case, most main-chain transactions aren’t needed anymore.

 

Tokenomics 

A new, upgraded tokenomics model also accompanies IQ’s launch, requiring users to hold PRQ, PARSIQ’s native token. IQ allows users to borrow or “rent” PRQ via IQ Protocol by paying a fee. In effect, they pay a subscription fee, with the proceeds rewarding lenders in a risk-free fashion. Accordingly, IQ’s model rewards holding in a simple but effective way which also ensures the long-term security of its network.

 

Strong Partnerships & Developments

IQ’s launch comes after a successful start to the year for the PARSIQ team. The current network recently integrated with the Solana ecosystem, allowing SOL users to combine data streams and write custom scenarios using PARSIQ’s user-friendly scripting language.

 

PARSIQ also integrated its Smart Triggers feature with data marketplace platform Ocean Protocol. The integration gives Ocean users the ability to automate reactions to specific data inputs using PARSIQ’s unique monitoring solution. 

 

This was also extended to Binance Smart Chain (BSC), with BSC users able to benefit from the same Smart Triggers feature. As part of the BSC integration, PARSIQ also became part of Binance’s $100 million accelerator fund as part of the top-exchange’s efforts to encourage innovative new projects to build on BSC. 

 

Moreover, PARSIQ has integrated with several other projects in the DeFi space, including Balancer, PAID Network, Injective Protocol, and many more. For more on these integrations, check out PARSIQ’s blog. 

 

About PARSIQ

PARSIQ is a next-generation blockchain analytics platform built to connect blockchain activity to off-chain applications and devices. It provides a number of innovative solutions for actionable data including customizable event-based triggers, data monitoring solutions, and real-time automation targeted at the SaaS space. 

 

For more about IQ Protocol, PARSIQ, and its future plans, visit PARSIQ’s website.  

 

Connect with PARSIQ on LinkedIn: https://www.linkedin.com/company/parsiq/

Follow PARSIQ on Twitter: https://twitter.com/parsiq_net

Join the PARSIQ community on Telegram: https://t.me/parsiq_group

Read PARSIQ’s blog on Medium: https://medium.com/parsiq 

 

Media Contact Details 

Contact Name: Bitcoin PR Buzz Press Team

Contact Email: [email protected] 

 

About Bitcoin PR Buzz 

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PARSIQ is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.