Cardano (ADA) developer Enter Output World (IOG) is working with the College of Edinburgh to create a brand new system to find out if a blockchain is actually decentralized.
IOGs To inform Most blockchains declare to be decentralized, however these claims are subjective as there is no such thing as a customary framework for evaluating decentralization.
The Edinburgh Diversification Index (EDI) goals to handle this downside, in accordance with the tech firm.
“EDI creates a unified framework that permits us to evaluate the diploma of decentralization and could be utilized to information extracted from Bitcoin, Ethereum, Cardano, and different chains.”
Based on IOG, the index evaluates the blockchain’s stage of decentralization based mostly on a number of layers, together with APIs, consensus mechanisms, {hardware}, software program, networks, tokenomics, governance, and geographic distribution of validators.
Step one of the initiative is launch of analysis tasks that outline and measure decentralization.
“EDI might be a reside tracker with calculations carried out by a workforce on the College of Edinburgh and underpinned by a strategy that’s constantly calculated and reviewed.”
The corporate says EDI offers a typical for measurable decentralization for the blockchain business and has a number of use circumstances.
“This could possibly be adopted by governments as a part of a broader crypto regulatory framework, giving customers and organizations extra confidence in deciding to decentralize their chains.”
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