Cryptocurrency
Cryptocurrency standards are published by the Institute of Electrical and Electronics Engineers and Deutsches Institut für Normung, and include specifications for crypto exchanges that ensure secure transactions and record keeping. If your business or organization is considering using cryptocurrency as a payment option, these documents give you the tools to learn about the different aspects of cryptocurrency transactions and exchanges. Cryptocurrency is binary data that serves as a digital currency in the place of traditional cash currencies. There are many different types of traded crytocurrencies, the most notable of which include Bitcoin and Ethereum. Cryptocurrency standards cover a range of topics related to the technical and legal requirements of cryptocurrency exchanges, custodian frameworks, transaction processes, and its relationship with blockchain technology.
IEEE 2140.1-2020
IEEE Standard for General Requirements for Cryptocurrency Exchanges
Self-discipline and professional ethics of cryptocurrency exchange platforms, as well as relevance between them and to cryptocurrency wallets are covered in this standard. Exchange business logic, operational procedures, user authentication programs are also covered in this standard. In addition, a small but necessary technical category of requirements, including terminologies, basic architectural framework, key indicators, end-user interface specifications, in order to achieve the previously mentioned goals is covered in this standard.
IEEE 2140.5-2020
IEEE Standard for a Custodian Framework of Cryptocurrency
New IEEE Standard - Active. A framework of a custodian service for cryptocurrency and token assets is defined in this standard. Custodian reference technical architecture, business logic description, custodian service business models, digital asset evaluation criteria, operational procedure models, and regulatory requirement support models are included in this framework.
IEEE 2143.1-2020
IEEE Standard for General Process of Cryptocurrency Payment
Defined in this standard is the general process of cryptocurrency payment between consumers and merchants. This process describes how a consumer purchases goods or services with cryptocurrency and how the merchant receives fiat money in return. It involves multiple aspects such as cryptocurrency payment operators playing an agent role, consumers owning cryptocurrency, merchant accessing to a cryptocurrency payment platform, banks, and cryptocurrency exchanges.
DIN SPEC 16597:2018
Terminology for blockchains; Text in English
This DIN SPEC 16597 in accordance with the PAS procedure was developed within a workshop set up on a temporary basis. The DIN SPEC was developed and approved by the authors named in the foreword. This DIN SPEC specifies general blockchain terms. Being industry and usage independent, it considers a variety of existing blockchain specifications such as "block", "blockchain", "consensus pro-cess", "cryptocurrency", "decentralized", "distributed", "distributed ledger", "double spending", "hard fork", "soft fork", "node", "nonce", "PoS", "PoW", "smart contract", "51 % attack" and "mining". This DIN SPEC can build the basis for all following phases in the innovation cycle and the following standardization processes.
