Cardano developer team & The University of Edinburgh teamed up to educate the crypto investors about the decentralisation of crypto projects or digital assets through EDI tracker.
In the present time, there are huge numbers of Decentralised Finance (DeFi) concept-based projects which also include blockchain networks, crypto wallets & decentralised exchanges, etc. But the majority of them are not decentralised and in some cases, big players can control the operational power of decentralised protocols through high funding tactics as a liquidity provider, bulk token holdings & staking pool operations.
The majority of the crypto projects are either working to push the crypto & blockchain adoption in the payment system or providing a kind of digital assets trading platform to generate revenue. But there are no tools or education system, which can help to identify & figure out the degree of decentralised nature of any crypto service.
By considering these issues, the Cardano developer team IOHK collaborated with The University of Edinburgh to develop The Edinburgh Decentralization Index (EDI). The partnership of these two agencies happened several months ago.
The developers from IOHK & researchers from Edinburgh are working on this Index. At this moment the core development work is going on but in the near future, they will release it.
Through the blog post IOHK stated:
“The first step for the tracker is the creation of research papers detailing decentralisation metrics and a considered methodology for compiling them into an index, created by researchers at the University of Edinburgh. It will then operate in the same way as other industry indexes.”
Alongside the development works, researchers & devs are working to prepare a dedicated research paper about this Index. When this index will be released it will provide live tracking of assets “underpinned by a continuously calculated and reviewed methodology.”
Here the main initiative of the Index will be to determine the degree of the decentralised nature of every crypto project but still it will be interesting to see about the backend concept technology of this index.
Presentation of the Edinburgh Decentralization Index by @sol3gga et al.
It measures decentralization of blockchain networks beyond counting the number of validators and their power (weight) over the system (consensus protocol).
This is a major leap forward for our industry
pic.twitter.com/SJBe5OGpF3
— Romain Pellerin (@rom1_pellerin) November 18, 2022
Read also: Solana failing as an Ethereum killer
Cardano’ IOHK announces Edinburgh Decentralization Index development
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