PARSIQ CTO Daniil Romazanov: Here to change the game as we know it

Learn from this tech expert how he pushes for blockchain innovation as the CTO of PARSIQ

Please introduce yourself and PARSIQ to the readers.

Hi, my name is Daniil Romazanov, and I’m the chief technology officer (CTO) at PARSIQ, a blockchain data company that has been at the forefront of innovation since 2018. PARSIQ specializes in providing advanced web3 application program interface (API) solutions that enable seamless integration and automation across various blockchain platforms.

I started my career in information technology as a junior developer right after high school and have since been involved in a wide variety of projects, from consumer electronics to gaming. I’ve built everything from backends and frontends to mobile apps and voice assistants. I joined the company as a product owner three years ago and transitioned to my current role a year later. 

Can you share some highlights from your career so far?

Certainly! I have been deeply involved in advancing data interoperability as the CTO of PARSIQ. Our journey had a focus on creating robust web3 data API solutions that cater to both individual developers and large-scale enterprise projects. Over the years, we have successfully established more than 100 strategic partnerships, significantly expanding our network and influence in the blockchain space.

A notable achievement has been the development and recent launch of the Reactive Network testnet last month. This new technology is constantly garnering positive and enthusiastic feedback from developers, which we are really proud of.

The Reactive Network offers an execution layer that supports Ethereum Virtual Machine (EVM) compatible Reactive Smart Contracts (RSCs) that are triggered by events on one chain and result in transactions on another or the same chain. You can look at it as an on-chain and cross-chain “if-this-then-that.”

Previously, transactions on EVM-chains could only be initiated by a user account controlled by a private key. A workaround is allowing bots to sign your transactions with your private key. Reactive Network provides an alternative that is both automated and decentralized. This solves several  fundamental problems known in the industry for a while, as well as some completely new cases.

Just to give a few examples, RSCs make possible cross-chain oracles, governance systems with automated decision execution and NFT ownership synchronization. It also solves one of the most annoying things in  decentralized finance (DeFi) by reducing the traditional “approve then swap” two-transaction process to one user-signed transaction.

What is the goal of Reactive Network and how do you plan to achieve that as CTO in the next five years?

The goal is to give the industry what it was missing for a long time — the autonomy and reactivity of smart contracts and decentralized applications (dApps). So far, they could only respond to user actions or bots but the first option is not automated, the latter is centralized and not secure. Reactive Smart Contracts allow for a more dynamic and responsive interaction within and across blockchain ecosystems that are both automated and trustless.
As CTO, my plan over the next five years is to build a robust and fast solution, as well as to discover new applications for EVM smart contracts after the aforementioned limitations are eliminated. We aim to make Reactive Network an essential tool for developers looking to create the next generation of dApps that will bring the new wave of users into crypto. The true unicorn doesn’t wait for the bull market — he brings the bull market.

Reactive Network has recently launched its testnet. Why is this launch important to the blockchain community?

The launch of the Reactive Network testnet is a big deal for the blockchain community because it finally solves several important problems with automation and interoperability. Unlike traditional smart contracts, RSCs are driven by on-chain events within blockchain ecosystems rather than user-initiated transactions. This innovation enables developers to build more intelligent, efficient and scalable dApps.

Another reason to take a closer look at Reactive Smart Contracts is that there is little requirement for the developers to learn any new tech. They are written in the same Solidity language and run on the same EVM as Ethereum smart contracts — with just a few additional tweaks. All the magic happens under the hood, and all a developer needs to do is to deploy an additional Solidity smart contract on a separate EVM-compatible blockchain.

Trying this tech out while it in testnet really gives a dApp developer an edge over their competition. So that when Reactive Network is in mainnet, they have all the research and development done and can deploy their system (such as a DEX with one-step swap, for example) and enjoy having new users earlier.

How has the market responded to the Reactive Network testnet launch so far?

The response has been fantastic! Developers and industry stakeholders are excited about the unique capabilities of Reactive. They see the potential for RSCs to significantly improve dApp development. The positive feedback we’ve received underscores the community’s appreciation for solutions that tackle the existing limitations of blockchain technology. Some of the use issues that RSCs solve have been a problem in many projects for a while, so moving forward with them alleviates a lot of pain for the developers.

We’re thrilled to continue refining and expanding our offerings based on this valuable feedback. Learning from the developer community about their problems and ideas is one of the best experiences in crypto — connecting to people and feeling the value of what you do. We’re also happy to see more and more web3 developers joining our Unicornization campaign, which features various developer bounties as well as opportunities for non-developers to contribute ideas and participate in the growth of our ecosystem.

Could you share some insights and lessons you have learnt from building a platform that facilitates operational efficiency in the blockchain sector?

One of the biggest lessons I’ve learned is the importance of balancing innovation with usability. It’s essential to develop advanced features while ensuring our platform remains accessible and user-friendly for developers. Listening to community feedback and iterating based on real-world use cases has been crucial. 
Additionally, fostering a positive and collaborative team culture has been key to driving innovation and maintaining high productivity levels. Building the Reactive Network has reinforced the need for a robust, scalable infrastructure that can handle the dynamic nature of blockchain interactions while maintaining high performance and security standards.

What other major developments can the industry expect from Reactive Network?

First of all, we’re looking to expand the capabilities of the Reactive Network, including support for more blockchain ecosystems. We’re also exploring integrations with some of the most promising DeFi protocols to enhance our platform’s utility. We are constantly looking for more use cases and developer feedback to make sure all the applications of our technology are discovered and implemented.

Our next big milestone is launching the mainnet, which will bring the full capabilities of the Reactive Network to a broader audience. Our focus will remain on delivering reliable, scalable and developer-friendly solutions that meet the evolving needs of the blockchain community. Stay tuned for more advancements from Reactive Network!