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Standardization

Standards are a magical thing, cutting across both atoms and bits.

Standards enable composability and interoperability to enable open innovation at the edges.

Mantra

The greatest potential value of blockchain to humanity is an immutable single source of truth

Application​

Definition​

Protocols and standards are closely related but distinct concepts.

  • Protocols are specific sets of rules for making progress in specific field
  • Standards are formally recognized and widely adopted protocols or specifications

Evolution​

Science learns of what is possible, Technology converts into know-how, Standards set expectations.

  • The Lindy Effect (Time) and Metcalfe's Law (Adoption)
  • Successful protocols often become standards through industry adoption and formal recognition
  • Standards organizations (e.g., ISO, IEEE, IETF) play a crucial role in formalizing and maintaining protocols as standards
  • Standards ensure interoperability, consistency, and quality across different implementations
  • The standardization process involves rigorous review, testing, and consensus-building among experts and stakeholders

Scalability​

Standards enable scalability by driving consistency, without consistency improvement is guesswork.

  1. Stable
  2. Consistent
  3. Composable
  4. Interoperable
  5. Reliable

The HTTP standard for example catapulted the internet to ubiquity by creating a uniform way to exchange information.

ISO Standards​

ISO standards are agreed internationally by experts in their field. Some of the most popular standards cover:

  • Innovation: ISO-69315
  • Quality Management: ISO-9001
  • Energy management standards to help cut energy consumption.
  • Environmental management standards to help reduce environmental impacts, reduce waste and be more sustainable.
  • Food safety standards to help prevent food from being contaminated.
  • Health and safety standards to help reduce accidents in the workplace
  • IT Security: IT security standards to help keep sensitive information secure.
  • ISO 9001 Checklist

Financial Standards​

ISO predicts that ISO-20022 will support 80 percent of transaction volumes and 87 percent of transaction value worldwide by 2025.

  • Impact of ISO-20022
  • CESR A periodic rate that measures the average annualized yield awarded to all eligible validators staking ether on the Ethereum blockchain. CESR is derived from new staking rewards emitted from the Ethereum proof of stake blockchain and transaction fees accrued over a one-day observation period.

Web Standards​