Hyphen has launched a Chainlink decentralized oracle network (DON) to provide smart contracts with access to a secure source of verified greenhouse gas (GHG) data, beginning with N2O data. This launch was made possible with support from the Chainlink Grant Program.

The Hyphen DON fetches various climate and reporting data, analyzes the data against specific climate initiatives, and then delivers various outputs to blockchains, such as real-world impact assessments and compliance reports. With this data available to blockchains, numerous smart contract outcomes can be triggered, unlocking the potential for new climate reporting ecosystems with added transparency to be built. These new reporting ecosystems would boost corporate emissions accountability and enable climate disclosures for regulatory compliance backed by verifiable proof and traceable data provenance.

Through independent, decentralized and transparent verification of data reporting using a Chainlink DON, the Hyphen framework is designed to help prevent and reduce climate and environmental fraud, such as inaccurate self-reporting which may lead to greenwashing. These unintended inaccuracies can harm honest corporate initiatives and actors interested in having a genuine positive environmental impact.

This initial oracle network launch provides N2O data from the ICOS using the Montreal Protocol framework. The Montreal Protocol is an international treaty designed to protect the ozone layer by phasing out the production of numerous substances that are responsible for ozone depletion. The Montreal Protocol was chosen as the initial compliance framework because it has been shown that protecting the ozone layer is highly effective in preventing a range of catastrophic climate effects. Furthermore, the role of N2O as both an ozone-depleting substance (ODS) and a GHG provides one potential bridge for connecting the Montreal Protocol to the Paris Climate Accord.

Chainlink, the industry-standard decentralized oracle network, is the most widely adopted oracle solution. Chainlink DONs connect smart contract applications to existing web APIs, off-chain computations, and other blockchain networks to expand the utility of decentralized applications across the multi-chain ecosystem.

The Chainlink Network is backed by a highly tested feature set that enables security, transparency, and authenticity in data delivery, for example:

• Data Integrity — Chainlink nodes cryptographically sign all data supplied on-chain to verify its origin, preventing man-in-the-middle attacks.
• Blockchain Agnostic — Chainlink nodes are compatible with any blockchain environment, serving as a single gateway to sell data on any current or future blockchain.
• Widely Adopted — Chainlink is the most widely used oracle network in the blockchain industry, providing access to a vast addressable market of potential data consumers.
• 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.

“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.” — Miles Austin, CEO of Hyphen Global AG.

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About Chainlink

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About Hyphen

Hyphen is committed to pioneering science-based digital MRV solutions with a strong emphasis on environmental preservation and collaborative stakeholder engagement. We firmly believe that safeguarding biodiversity and ecosystems is imperative for a sustainable future. By harnessing real-time atmospheric greenhouse gas data, our mission is to enhance the integrity of carbon markets.

Hyphen’s methodologies have been honed through over six decades of research conducted under the auspices of the World Meteorological Organization. We place atmospheric greenhouse gas monitoring at the forefront of efforts to improve the verification of emissions reductions, removals and sources. In an era characterized by the global shift toward a green economy and the overarching goals of the Paris Agreement, Hyphen stands as a leader, advocating for science-driven MRV solutions that unlock the full potential of voluntary carbon markets and comprehensive sustainability initiatives.