Paralink is a real world data ingress for cross chain applications. Its purpose is to collect, validate, aggregate and interpolate real-world datasets and feed them into smart contracts on Ethereum and Polkadot. Developers can create custom queries using Paralink Query Language and connect smart contracts with traditional web APIs. Applications that require the highest degree of security can use Paralink on-chain consensus algorithm, running on Polkadot Substrate, making the coordination cheaper than performing the same computation on Ethereum.
Currently in testnet, Paralink is another upcoming Oracle trying to bring innovation by taking advantage of Polkadot to offer a cheaper alternative to what Ethereum allows. It is early to determine if Paralink will become a strong contender in the Oracle’s race, but it is worth keeping it in mind just in case.