According to IOG’s blog, Input Output Global, the company that created the Cardano network and the University of Edinburgh, have teamed up to create a blockchain decentralization indicator. The university created the research-based methodology that will be used to create the new service. It is the first of its type. The Edinburgh Decentralization Index (EDI) will be available when it is
According to IOG’s blog, Input Output Global, the company that developed the Cardano network and the University of Edinburgh, have teamed up to create a blockchain decentralization indicator. The Edinburgh Decentralization Index, (EDI), will provide real-time asset tracking and a continually calculated and reviewed methodology. It was launched in Edinburgh on November 18, after months of preparation.
“By working together as an Industry on these Standards, we can ensure that consumers are protected without limiting some of the exciting innovation which makes our industry stand out.
This is why tools such as the EDI are so important – it’s an illustration of the kind of work that we should be doing to move our industry in the right direction while keeping the founding ethos and spirit of blockchain.
Since there is no industry standard, most initiatives in the cryptocurrency space have been described as decentralized. IOG claimed that, in this instance, the EDI might set the stage for categorizing Bitcoin ventures.The EDI promotes decentralization’s advantages of transparency, censorship, resilience, and integrity to uphold the fundamental tenants of blockchain technology.DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comHaroldCoincu NewTags: CardanoEDIIOGIOHKUniversity Of Edinburgh