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Friday, February 3, 2023
HomeBlockchainCardano (ADA) Developer Helps Create New Methodology for Evaluating Blockchain Decentralization

Cardano (ADA) Developer Helps Create New Methodology for Evaluating Blockchain Decentralization


Cardano (ADA) developer Input Output Global (IOG) is working with the University of Edinburgh to create a brand new system that can decide if a blockchain is actually decentralized.

IOG says that almost all blockchains declare to be decentralized however these assertions are subjective as a result of no normal framework for evaluating decentralization exists.

The expertise firm says the Edinburgh Decentralization Index (EDI) goals to handle this downside.

“The EDI will create a unified framework capable of evaluating degrees of decentralization, and is applicable to data extracted from Bitcoin, Ethereum, Cardano, and other chains.”

IOG says the index will assess a blockchain’s degree of decentralization based mostly on a number of layers, together with API, consensus mechanism, {hardware}, software program, community, tokenomics, governance and validators’ geographic distribution.

The first step of the initiative entails the launch of a analysis mission that can outline and measure decentralization.

“The EDI will be a live tracker underpinned by a continuously calculated and reviewed methodology, with calculations being carried out by a team at the University of Edinburgh.” 

The agency says that the EDI will present a normal of measurable decentralization for the blockchain trade and may have a number of use circumstances.

“It could be adopted by governments as part of a wider crypto regulatory framework, allowing users and organizations to determine a chain’s decentralization with more certainty.”

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