Hyphen guarantees access to a secure source of verified greenhouse gas (GHG) data for smart contracts via Chainlink (LINK/USD) decentralized oracle network (DON), starting with N2O data, Invezz learned from a press release. The Chainlink Grant Program supports the launch.
Triggering numerous smart contract outcomes
The DON delivers various climate and reporting data, analyzes it, and makes outputs to blockchains available. These include real-world impact assessments and compliance reports. The availability of data can trigger different smart contract outcomes, unlocking the potential for new climate reporting ecosystems.
Improving emissions accountability
These new reporting ecosystems will improve corporate emissions accountability and make climate disclosures for regulatory compliance possible through verifiable proof.
The Hyphen framework prevents climate and environmental fraud thanks to autonomous, decentralized, and transparent data reporting using a Chainlink DON. This connects smart contract applications to existing web APIs, off-chain computations, and other blockchain networks to expand the multichain utility of dApps.
Montreal Protocol compliance
The initial oracle network launch provides N2O data using the Montreal Protocol, an international treaty designed to protect the ozone layer by phasing out the production of numerous substances that are responsible for ozone depletion.
Miles Austin, CEO of Hyphen Global AG, commented:
We’re excited to be bringing this verified emissions data on-chain through a Chainlink DON. With more accurate data available on blockchains, there’s huge potential for the creation of new reporting ecosystems as well as to support innovative emissions initiatives that bring transparency, support climate action, and enable new ways to incentivize lower emissions.
Benefits of Chainlink network
A thoroughly tested set of features backs the Chainlink Network, enabling authenticity, security, and transparency in data delivery, such as:
Wide Adoption — Chainlink is the most widely used oracle network in the blockchain industry, providing access to a vast addressable market of potential data consumers.
Data Integrity — Chainlink nodes cryptographically sign all data supplied on-chain to verify its origin, preventing man-in-the-middle attacks.
Provably Secure — Chainlink is thoroughly audited open-source software that already secures billions of dollars in value, showcasing its ability to provide accurate data with real-world stakes.
Blockchain Agnostic — Chainlink nodes are compatible with any blockchain environment, serving as a single gateway to sell data on any current or future blockchain.
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