Cardano (ADA) developer Enter Output International (IOG) is working with the College of Edinburgh to create a brand new system that may decide if a blockchain is really decentralized.
IOG says that almost all blockchains declare to be decentralized however these assertions are subjective as a result of no commonplace framework for evaluating decentralization exists.
The know-how firm says the Edinburgh Decentralization Index (EDI) goals to handle this downside.
“The EDI will create a unified framework able to evaluating levels of decentralization, and is relevant to knowledge extracted from Bitcoin, Ethereum, Cardano, and different chains.”
IOG says the index will assess a blockchain’s stage of decentralization primarily based on a number of layers, together with API, consensus mechanism, {hardware}, software program, community, tokenomics, governance and validators’ geographic distribution.
Step one of the initiative entails the launch of a analysis venture that may outline and measure decentralization.
“The EDI will likely be a reside tracker underpinned by a repeatedly calculated and reviewed methodology, with calculations being carried out by a crew on the College of Edinburgh.”
The agency says that the EDI will present a regular of measurable decentralization for the blockchain trade and can have a number of use instances.
“It could possibly be adopted by governments as a part of a wider crypto regulatory framework, permitting customers and organizations to find out a series’s decentralization with extra certainty.”
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