IOG and the University of Edinburgh Have Begun a Study on Blockchain Decentralization
Professor Aggelos Kiayias, who holds the chair in cyber security and privacy at the University of Edinburgh and is also the chief scientist of Input Output Global (“IOG”), the blockchain technology company funding Cardano’s R&D, has unveiled the Edinburgh Decentralization Index initiative.
The EDI will serve as a metric for evaluating blockchain projects’ degree of decentralization. Adopting the EDI might help governments have a better understanding of cryptocurrencies. There are several conceivable uses for EDI. Governments might embrace it as part of a broader crypto regulatory framework, enabling consumers and organizations to assess a chain’s decentralization with more assurance.
A collaborative, multidisciplinary team of senior academics and technologists is designing the index. Dr Daniel Woods, a professor in Cybersecurity at the University of the Emirates’ School of Informatics, and Prof. Aggelos Kiayias, the head scientist at IOG and the University of the Emirates’ Chair in Cybersecurity and Privacy, oversee the team’s work at the university’s Blockchain Technology Laboratory (BLT).
The EDI will provide a consistent framework for measuring degrees of decentralization, applicable to data taken from Bitcoin, Ethereum, Cardano, and other chains.
“The index takes into account the hardware, software, network consensus method, and other aspects of a chain to determine its overall level of decentralization. Tokenomics… API… Management… The regional arrangement of validators.”