We are pleased to announce our next AMA on February 10th 2021 at 11:00 AM UTC Time: Satoshi Club x Paralink Network
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Paralink Network Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Paralink Network Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Paralink Network
For more details:
Paralink Network – @paralink_network
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Why do you think this project will succeed.
What is your vision?
What do you expect from the following year?
How is the Paralink Token going to be sold or distributed if there is no public sale? Will there be an airdrop ?
Who are the main competitors of Paralink in cryptospace ? Is chainlink one of them? Also what is paralink doing that is better than it’s competition?
What are the potential usecases where paralink solutions fix a problem? Do you think areas like high frequency money markets will move onto blockchain technology in the future where paralink can serve the secure data ingress role ? What advantage would these high frequency finance markets gain by moving from their current centralized systems to decentralized networks?
To ensure the security and integrity of on-chain data, you have introduced a self-organising data repository known as the Relayer Quorum. What mechanism is used by Relayer Quorum to aggregate and validate real world information? It is also said that this repository will have a reward token mechanism as well as slashing. Since you are not using stakers or Proof-of-stake approach but will be relying on Paralink node which is an open-source piece of software to access real world data which is relayed back to smart contract, how will this reward/slashing be carried out?
You said that the biggest additions of paralink that set it apart from other oracle protocol is the advanced queries function which uses the Paralink Querry Language, PQL definition functions. How is this carried out within your protocol and how has this introduction change the scope of data ingress in DApp that relies on oracle data solution. Can this function be expanded to support custom data sources?
Decentralised applications can choose from your three oracle security models solutions which are Simple Oracle, Trusted Oracle and On-chain Consensus. In terms of functionality, what differences exist between each model and how do they help to improve the reliability of the oracle data provided by Paralink network? How is the on-chain coordination, validation and interpolation mechanisms of data architecture executed and what will it cost to use each model?
According to your Paralink Nodes; data are sourced through Paralink Query Language (PQL) where PQL allows one to query SQL databases, access web API’s etc. Nothing is said about Oracle which is widely used by most blockchains. Is your PQL limited to only these query platforms. Will PQL query threat and security flaws. What programming language is your PQL?
According to your Road Map we will have your token in the ecosystem, what appreciation do you have of the high volatility in the ETH market and what improvements are still to be covered in the listing process?
I read that you are using Paralink entropy. What is it and what is it for?
I can use Paralink.network in several ways: Derivatives and money markets, Prediction markets and insurance, Gambling and non-deterministic apps. Could you tell us about this?
On February 5th, you started the Paralink meme contest. Is it just for your community, or can anyone take part in it? What ground rules have you developed for participants? For what purpose are you holding this event? How will the winners be determined and what awards await them?
Where is the main idea to build Paralink Network come from? And why is Polkadot? There are so many Blockchain like Eth, BSC or tron. Can you give explanation?
I read that Paralink Network was build on Polkadot but in the same site you also build your own Token on the Ethereum ERC20, can you explain the reason, isn’t this will make a contradiction?
Paralink Network have Token (PARA) that can be used for an incentive and governance Token. But can you explain what incentive that holder will get? Can we also stake PARA Token and what is the benefit from staking?
One of Paralink services use cases is derivatives and money market, which enables realtime asset pricing, that’s a lot of data to manage, how is Paralink accessing in a secure and efficient way to provide all this data from the money markets?
Is there an specific type of applications able to use Paralink on-chain consensus algorithm? What are the advantages of this consensus knowing it’s running on a Polkadot Substrate?
What other benefit/advantages does the collaboration with Konomi give Paralink outside using Konomi native token for fees? Also, how does using Konomi native TOKEN make for seamless integration?
Every quality project has great partnerships behind it and Paralink is doing an excellent job on that front. Can you share with us how some of these partnerships have impacted positively on the Paralink project and can you also share with us some upcoming partnerships?
Can you throw more light into what is meant by Paralink entropy as a service provides high quality hardware based randomness?
I can see that Paralink Network offers a multi-chain oracle platform for DeFi and other blockchain applications , can you please tell me what Paralink Node supports ? I mean for example do you support Ethereum? And is it possible to see more networks coming ?
Thanks
Nowadays Each blockchain application can only access the state via public interfaces on the same chain. Without access to the real world data, blockchains cannot be used for prediction markets, insurance, litigation and governance. Can you please tell me how can your project fix this oracle problem ? What steps do you take in order to fix it ?
Thanks
From your website I saw that accessing real-world data is easy with Paralink Query Language and a community maintained registry of PQL querie , can you please tell me what is Paralink Query Language? I mean how can I benefit from using it ?
Thanks
The continuous growing of a platform depends on how much strong is its community and the token itself, so Considering that you don’t have any buyback system to increase the demand or any incentives program, how will you guarantee a successful long term run ?
To many investors the quality of a project is based on the Main Token, so considering this can you give a full description about the tokenomics or funtions of the $PARA ?
Paralink have its own Language under the name Paralink Query Language, so what are the benefits that offers in comparision with others Oracles?
The Paralink Whitepaper says that Paralink security model have 3 differents versions with different cost, so can you explain us Which they are and how much is needed to pay for each one?
Can you provide more details about the launching ofyour token $TGE on Ethereum? What will be the utility of this token and what solutions are you planning to give to your community to create a lower impact of the painfully and high fees from Ethereum protocol?
Mostly the projects that decided to create it’s consensus and part of it’s architecture based on Polkadot take advantages of one of the biggest virtues of this platform: interoperability. Will Paralink add this option to it’s platfrom aswell in the future?
Paralink is a Oracle technology so apart of blockchains, can you be deployed into decentralized clouds?
Currently many projects has been used polkadot to deploy its ecosystems, but all of them have their own reasons, so can you explain us what are the characteristics that you find of polkadot that made you chose it over other platforms like Tron or BSC?
You comment that the relayer quorum is a set of designated validators who perform the final validation of the Oracle job and transmit the results to the customer, Super Important!!!. My question: Who and how do they choose these designated validators? How much rewards do they receive for this work?
Like other Oracles Paralink has the great possibility to provide real price data, and the first barrier is to determine the most reliable or authoritative sources. Each oracle has its own criteria, in your case how do you decide which portal to trust or not? How do you do this process?
How can I become a data provider for Paralink, do we have to pass some kind of verification, what are your requirements? Finally, do you provide any training for this?
I saw that you have plans for a ECR-20 version of Paralink Token, could you tell us what made you take this decision? On what exchanges will we be able to see it and when will this toke be release? Don’t you think having a ECR-20 version will make the original one stay in its shadows?
On your roadmap as one of your goals is “Partner network lockdrops”, could you give us more information about this? What do you mean with “Partner network lockdrops”, and what partners are we going to see? Are you looking for something special when it comes to this or a partner you previously announced like Konomi or Reef, for example, is just as fine for this goal you have settled? Will there be any difference between them, the partners we already know and the ones that you will announce in that moment?
I read that Paralink will have something called Paralink Entropy, and from what I understand it could be used for so many different things, could you tell us especifically on what cases we can use it? What do we have to do or what requirements do we have to complete to be able to use Paralink Entropy?
I read from one of the articles that Paralink oracles will use Konomi native token for fees and thus, making it seamless integration. So you will have 2 tokens that will run into the Paralink ecosystem? What will be these tokens distinct role or usecases on the Paralink Oracle?
How do you solve the classic oracle problem? some people already think that the oracle problem will not be solved, what is your opinion about this?
Some people are may hesitant to risk their money on the Oracle system, because there is no risk-free on oracle system right? Do you have a mechanism to protect consumer funds? like insurance coverage for example?
The data required is searched in the oracle through the Paralink Query Language, what are the particularities of this language? Doesn’t it limitate the applications that can use it, due to translation problems or makes more difficult the understanding of the oracle?
Some projects can get adoption really quickly and get consolidated as a solid enterprise in few months, while to others it may take years if even happen, how long can Paralink Network wait until its time comes and it takes off and become profitable, what is your funding until that happens?
The oracle of Paralink is powered by the well known Polkadot, which features of it allow the oracle to be functional with Dapps without corrupting their native decentralization?
Part of your roadmap this Q1 2021 is the TGE or Token Generation Event for Paralink Network. So can you tell us the overview of this Token Generation Event(TGE) in your platform? How can we participate in this event? What are the qualifications and requirements? What are the benefits for early adopters of this event? Thank you
Why does Paralink decided to launch their network in Polkadot? What advantages and positive impacts did you see from Polkadot? Can you share some good points that Paralink and Polkadots benefitted to each other? Thank you
The Ethereum token is great for it’s interoperability & with already established DeFi ecosystem. So will there be an ERC-20 version of your token? If so, do you plan to convert it with the native PARA token on Paralink chain? Also Paralink Node supports Ethereum and Plasm, is there a plan to add more networks?
Paralink employs PQL validation to ameliorate security and robustness on its platform and in PARALINK NODES, sourcing data is done through Paralink Query Language (PQL). So can you give us more understandings of what is PQL all about? And what do you want to achieve more with PQL?
I have read that Blockchain applications of today are severely limited by the range of use cases they can serve. So why we should get involved with PARALINK? What are the advantages that you have over your current competitors and how this will change the way people build dapps and think about data ingress into smart contracts?
The overall security of the network relies on a number of different roles being fulfilled.What tasks are assigned to the roles of Nominator, Validator, Collator and do they receive a reward for their work?
Do all Paralink partnership includes using or adopting the partners tokens for fees? Will it not affect the $PARA tokens price and users demand for it?
Paralink Network collected $2.8M usd thtough their fundraise coming from institutional investors. But do you have plans to run another tokensale for individual investors?
You have launched developer testnet. How active is the work? Perhaps you can share with us what interesting things you are developing now?
What is the main task facing the Paralink Network developers? Why did you decide to create an Oracle for the Polkadot ecosystem? Do you think that the existing oracles do not cope with their tasks and you can create a better solution?
What steps have you taken to run this project for a long time. How do you earn money to give people money like this?
Even if you promote yourself by giving money to people in this way, you may fail in the future.How to successfully complete your journey without such a breakdown
can you give us a very high-level overview of what Paralink is and what competitive edge it brings to the Crypto Universe?
Did you find any threats till yet like smartcontract failures.When we think about mass adoption,security should be our first priority.
Oracles’ current problems are not only limited to speed or security… There is another variable that is also determinant when choosing this service… That variable is the Price, what it costs a project to use an oracle. The leading oracle on the market right now is extremely expensive… You claim throughout that you are much cheaper, can you explain how you achieve this, how cheap you are as opposed to your competitors, do you have comparative tables on this?
What was your inspiration throughout the journey of Paralink Network? How has the artistic and creative vision of Paralink Network changed throughout its development?
We’ve seen your statement problem but you don’t mention how does Paralink hope to solve the oracle problem at a cheap rate and without it been too brittle to be used at scale?
I understand that a conventional blockchain can provide predictions in the market, but by using the Polkadot chain, or by having entropy randomness, will they be able to provide reliable and reliable predictions?
Really any application can use the consensus algorithm, or will it only be for those that “require more security” as you say? If so, which applications would need the most security?
It is clear that to connect the blockchain with data, oracle is required, but will Paralink be this new connector without necessarily being an oracle? Or is it certainly an Oracle just that more advanced?
Paralink is empowered with Polkadot, which will allow you very low commission rates, but on top of this, will it allow you to interconnect with any other chain? or will that come later?
Many projects that are part of other chains end up creating a token that belongs to the ERC20 network to increase their trade through uniswap, is it for this same reason that Paralink implemented it? or will it be for the purpose of greater diversity?
The main objective is to connect the blockchain with multiple data, and facilitate predictions, but how far do the founders of this project plan to go with Paralink?
I understand that by implementing randomness in games of chance, an algorithm can be created that improves statistical analysis. Is this the only way to facilitate it? or are there many other ways but not so effective?
Among the last objectives described in its Road Map is to achieve Polkadot Ethereum Interoperability, but why is this only interconnection and not with other chains?
Paralink has already raised $2.8 million, really big success, congrats! And I think more importantly, you got backed by really notable investors such as LD Capital, Kenetic, 3Commas, Genesis Block Ventures and NGC Ventures. How did you achieve this? Is that the scope of project, or is your team known by a good previous project, or maybe your advisor (CEO of Reef Finance), or marketing…? Your approach will be a good sample for other new projects.
Actually Oracles already found long time ago but some people still dont know about oracles,
and the famous one i think only Chainlink (from what i know)..
Could you explain about the highest level rundown of what data access for blockchain is ?
and what is that mean for solution or a network?
We can see in Polkadot ecosystem, there are several project is already not active in Oracle vertical.
for example like PolkaOracle.
For Paralink Network, how did you see rivalry in the area of Polkadot system?
could you tell your plan to make Paralink Network
become superior and lead in solution provider and similar project ?
ParaLink as an Oracle provides its partners with data on prices, market movements, weather forecast and much more … I do not understand how the Oracle works, where does it get this data? Is there a possibility of error, or that the oracle will receive incorrect information?
Polkadot is a young network that has yet to be launched (approximately on May 26 ). Are you not afraid that a network that has not yet been tested in action may not meet the expectations and projects launched on this network will simply not be able to function
You have become partners with 3 commas. This is very encouraging for me as a trader because it is one of the best smart trading services. Please tell me in what direction will the interaction be? Will new robots with a unique AI-based on data aggregated by Paralink be available on 3commas.
In order to enjoy ur project privacy it is necessary to swap my ERC20 tokens to the ur project network? That is, will you work with an internal network or how will you avoid the tracking that the ETH network allows?
Currently there are many projects that have a hard time solving the constant problems of data flows.. What solutions does paralink offer to route data flows dynamically between clients and servers? How complex is this process
How has the COVID-19 pandemic affected this project, it’s team and it’s roadmap
Some types of service require data that is protected by law. For example, for insurance, you need customer identification data, health data, and others. How will Paralink be able to overcome the barrier to obtaining personal data?