Algorand Utilizes New PARSIQ Technology for Analyzing the Biggest Blockchains
Algorand is all set to obtain the ability to analyze the largest blockchains on the market now. The platform will be integrated with the PARSIQ monitoring system. This system is a tool that can be used by compliance professionals, researchers and market analysts to discover insights about the market and track activities in real-time.
The CEO of Algorand, Steve Kokinos, affirmed that the new upgrade will help the users who want to get a broader view of the market, especially for large blockchains. He believes that there is a current need to simplify the experience of dealing with the blockchain. People want to deal with technology, but they clearly need some help.
By using PARSIQ, the experience can be simplified and made easier, which can obviously impact in a positive way the work of the developers who work using the Algorand platform as a base.
Another positive point about PARSIQ, he affirmed, is that it is one of the only tools on the market right now that can analyze very large networks. Normal tools often fail in properly doing this. The Bitcoin network’s current size is 242 GB. That’s a lot and you need special tools to achieve the best results.
Most of the functionality for this new platform comes from ParsiQL, its specific language. The founder of PARSIQ, Andre Kalinowski, affirmed that the language was created with this goal already in mind, so it is highly devised to be useful in these situations.