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Cardano (ADA) developer Input Output Global (IOG) is working with the University of Edinburgh to create a new system to determine if a blockchain is truly decentralized.
IOGs To tell Most blockchains claim to be decentralized, but these claims are subjective as there is no standard framework for evaluating decentralization.
The Edinburgh Diversification Index (EDI) aims to address this problem, according to the tech company.
EDI creates a unified framework that allows us to assess the degree of decentralization and can be applied to data extracted from Bitcoin, Ethereum, Cardano, and other chains.
According to IOG, the index evaluates the blockchain’s level of decentralization based on multiple layers, including APIs, consensus mechanisms, hardware, software, networks, tokenomics, governance, and geographic distribution of validators.
The first step of the initiative is release of research projects that define and measure decentralization.
EDI will be a live tracker with calculations performed by a team at the University of Edinburgh and underpinned by a methodology that is continuously calculated and reviewed.
The company says EDI provides a standard for measurable decentralization for the blockchain industry and has several use cases.
This could be adopted by governments as part of a broader crypto regulatory framework, giving users and organizations more confidence in deciding to decentralize their chains.
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