Chainlink Data Standard

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.

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:

• Price Feeds for accurately pricing digital assets in real time, such as cryptocurrency, stablecoins, equities, commodities, ETFs, fixed income, and more.
• 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.
• Data Streams to access high-frequency market data for cryptocurrency, Real Word Assets, Net Asset Value (NAV), and more.
• Any other data type needed to facilitate an onchain transaction, such as lending rates, assets under management (AUM), sports scores, weather information, and more.