Full-service investment company Genesis Block Ventures (GBV) announces an investment in Paralink Network, a multi-chain oracle platform for DeFi applications.
Paralink Network aims to solve the “blockchain oracle problem” – how blockchain protocols can ingest data from third-party sources in a reliable, trusted way – with its multi-chain oracle platform for DeFi and other blockchain applications. Its purpose is to collect, validate, aggregate, and interpolate real-world datasets, and feed them into smart contracts on Ethereum and Polkadot.
Paralink’s flexible node design allows developers to query data including real-world events, sports, weather, random numbers and more. Its proprietary query language Paralink Query Language (PQL) allows developers to query SQL databases, access web API, scrape websites as well as access state from other blockchains.
Powered by Polkadot
Paralink Network has built its on-chain consensus algorithm using Polkadot and its Substrate stack, as its solution to the nagging problem of blockchain interoperability. This not only provides interoperability for Paralink Network, but also pooled security making it easier to work its magic.
Paralink Token (PARA), native token of the Paralink Network ecosystem, is an incentive token used for on-chain coordination and governance. PARA holders will be able to stake their tokens to earn the governance rights. In exchange for staking their tokens and performing regular governance functions, they will earn PARA tokens on their staked amount.
Paralink Network has received backing from notable investors including LD Capital and NGC Ventures, among others.
As an investment company with a mission of building the future through blockchain, Genesis Block Ventures has built a wide-reaching, vibrant blockchain ecosystem, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and DeFi projects.
Through the investment, Genesis Block Ventures will help further expand Paralink’s opportunities in the DeFi space. We are delighted to participate in Paralink’s exciting journey to be the ultimate data bridge between blockchains and real world data.
About Paralink Network
Paralink Network is a multi-chain oracle platform for DeFi and other blockchain applications. Sourcing the data is done by Paralink Nodes through Paralink Query Language (PQL), which allows one to query SQL databases, access web API’s, scrape websites as well as access state from other blockchains.
Paralink on-chain consensus algorithm is being built using Polkadot and its Substrate stack, making Paralink secure, scalable, and economically viable.
About Genesis Block Ventures
Genesis Block Ventures (GBV) is a full-service investment company closely working with Genesis Block HK, Asia’s leading digital asset over-the-counter (OTC) trading center.
As a private investment company with a mission of building the future through blockchain, Genesis Block Ventures is an active participant in the DeFi revolution, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and DeFi projects.