You signed in with another tab or window. Reload to refresh your session.You signed out in another tab or window. Reload to refresh your session.You switched accounts on another tab or window. Reload to refresh your session.Dismiss alert
The global financial system requires adherence to various forms of compliance within different geographic regions in order to conduct transactions, such as KYC/AML or transaction rate limits. These compliance requirements are implemented to protect against fraud or illicit activity and ensure specific jurisdictional or internal business requirements are satisfied. As a result, token issuers, financial institutions, and DeFi protocols need a way to embed compliance into their tokenized assets and blockchain applications in a manner that’s efficient, reliable, and specific to their unique needs.
10
+
11
+
The Chainlink compliance standard, powered by the Onchain Compliance Protocol (OCP) an open, protocol-level specification defining how to utilize DONs to define and store compliance data onchain and utilize identity data and policies in smart contracts. OCP allows existing identity systems (e.g., GLEIF’s vLEI, ERC-3643) to be integrated with onchain infrastructure via the [Cross-Chain Identity (CCID) framework](https://blog.chain.link/automated-compliance-engine-technical-overview/), with policies enforced onchain and offchain using the Policy Manager. Compliance policies can be embedded directly within smart contracts and any token type, credentials can be verified without exposing personal data, and identity attestations can be coordinated across blockchains and jurisdictions. This is enabled by CCT and its compliance extension, which functions as a connector between smart contracts and CCID and the Policy Manager.
Most blockchain transactions require some form of external data to determine if specific conditions were met prior to triggering the execution of smart contract code. High-quality data is paramount to maintaining blockchain application security and ensuring accurate outcomes, as manipulated data can result in unexpected outcomes and the loss of user funds. Due to their inherent security model, blockchains do not have direct access to external data in the real world and thereby require oracle infrastructure to deliver the data, often referred to as the blockchain oracle problem.
10
+
11
+
The Onchain Data Protocol (ODP) is an open, protocol-level specification for how a DON aggregates and verifies external data and publishes it onchain. It also encapsulates how applications securely access the data via a consistent set of interfaces across any blockchain—regardless of source, format, aggregation, delivery models, chains used, or use case. All of Chainlink’s data oracle solutions are unified under the ODP standard, giving institutions the foundation they need to seamlessly and securely bring core financial data onchain and power the next generation of global markets.
Chainlink ODP supports data oracle services that enable developers to bring any external data onchain and use it as part of their blockchain transactions. Some examples include:
16
+
17
+
-[Price Feeds](/data-feeds/price-feeds) for accurately pricing digital assets in real time, such as cryptocurrency, stablecoins, equities, commodities, ETFs, fixed income, and more.
18
+
-[SmartData](/data-feeds/smartdata) for servicing tokenized assets. For example, Proof of Reserve can verify the current collateralization of onchain assets backed by offchain or cross-chain reserves, while Net Asset Value (NAV) can price tokenized funds to support onchain subscriptions and redemptions.
19
+
-[Data Streams](/data-streams) to access high-frequency market data for cryptocurrency, Real Word Assets, Net Asset Value (NAV), and more.
20
+
- Any other data type needed to facilitate an onchain transaction, such as lending rates, assets under management (AUM), sports scores, weather information, and more.
0 commit comments