Chainlink Collaborates With IEEE BDL to Develop International Oracle Standards

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Chainlink Collaborates With IEEE BDL to Develop International Oracle Standards

We are excited to announce that Chainlink is collaborating with the IEEE Computer Society Blockchain and Distributed Ledger Standards Committee (IEEE BDL) to develop global standards around the adoption of decentralized oracle networks. A Chainlink Community Grant has been awarded to sponsor a new study group that will bring together a diverse network of international engineers and decision-makers from governments, companies, and academic institutions to create a common framework that establishes best practices for building dApps with oracle networks and hybrid smart contracts.

The oracle study group will focus on:

  • Leveraging the IEEE’s proven, time-tested framework to facilitate the end-to-end creation, production, and distribution of open, balanced, and market-driven technology standards.
  • Accelerating the development of hybrid smart contract applications by creating trusted global standards on how to securely, reliably, and efficiently use oracles to connect blockchains to traditional data providers and modern digital infrastructure.
  • Creating a more economically fair, transparent, and globally connected world through the proper application of blockchain and oracle technology, particularly to identify systemic risk in developed markets and generate major technological leaps in emerging markets.

IEEE is the trusted voice for engineering, computing, and technology information around the globe. With an active portfolio of nearly 1,300 standards and projects under development, IEEE is a leading developer of industry standards in a broad range of technologies that drive the functionality, capabilities, and interoperability of products and services transforming how people live, work, and communicate. IEEE and its members inspire a global community to innovate for a better tomorrow through highly-cited publications, conferences, technology standards, and professional and educational activities.

IEEE BDL manages the development of standards within the area of blockchains and distributed ledgers, including standards for relevant data formats, the development and implementation of blockchains and distributed ledger systems, and for blockchain and DLT-based applications for ...

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