Chainlink to Collaborate with IEEE to Develop Intl. Oracle Standards

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  • Chainlink is collaborating with the IEEE to develop global standards for the adoption of decentralized oracle networks
  • Chainlink will be working with the Computer Society Blockchain and Distributed Ledger Standards Committee of the IEEE
  • A Chainlink community grant has been awarded to sponsor the process
  • IEEE is a global body that provides industry standards in engineering, computing and technology

The team at Chainlink (LINK) has announced a new collaboration with the globally recognized Institute of Electrical and Electronics Engineers (IEEE), to develop standards for the adoption of decentralized oracle networks.

In particular, Chainlink will be working with the Computer Society Blockchain and Distributed Ledger Standards Committee of the IEEE.

Chainlink Community Grant for A New Study Group Focused on International Standards

Furthermore, a Chainlink Community Grant has been awarded to a new study group that will be tasked with establishing the best practices for building Dapps with oracle networks and hybrid smart contracts. The study group will include international engineers and various decision-makers from government, companies and academic institutions.

The study group will then proceed to work on the following three key areas in establishing global standards for the adoption of decentralized oracle networks.

  • Using IEEE’s proven processes to create technology standards that are open, balanced and market-driven
  • The accelerated development of hybrid smart contract applications using global standards created to ensure the secure, reliable and efficient use of oracles to connect blockchains with traditional data providers and digital infrastructure
  • Ensuring the proper application of blockchain and oracle technology in a more economically fair, transparent and globally connected world

More on the IEEE

Founded in 1963, the Institute of Electrical and Electronics Engineers (IEEE) is the world’s largest association of technical professionals spanning 160 countries and over 423k members. Simply referred to as I-Triple-E or Eye-Triple-E, the association is tasked with the educational and technical advancement of disciplines related to electrical engineering, electronics engineering, telecommunications, computer engineering and related areas in science and technology.