The Edinburgh University students and the ADA developer, IOG, are planning to develop the 1st indicator to offer a sector-standard unit of measurement for cryptocurrency systems analysis in order to increase clarity in the cryptocurrency sphere.
Transparency on the crypto market will soon become a reality
On November 18, the top proof-of-stake redistributed finance system and Cardano’s developers IOG collaborated with a group of students from the Edinburgh University, the fourth-best university in the UK and the fourteenth-best in the world, to create the first “decentralization index” for the blockchain sector.
By developing a frame of reference using a methodology based on research, the new decentralization indicator seeks to increase clarity in the cryptocurrency market.
The degree of this quality for open crypto-based undertakings will always be determined within this context. This will defend the clients from too much centralization in the system in line with the fundamental ideas behind crypto-related services and can stop situations where focused command over finances prevents investors from getting their money back.
The benefits for users and investors
The EDI is going to function as a real-life indicator backed up by an ongoing calculation and reassessed methods, with computations made by a group of the best students from Edinburgh.
While the cryptocurrency market develops to direct inventions in the crypto-based sector, this thorough review process is intended to address market volatility.
This gives those who are interested in cryptocurrencies a more thorough understanding of the risks associated with decentralized projects. Edinburgh University makes a risky move toward solving cryptography’s decentralized nature.
The creation of the Edinburgh Decentralization Index is being proudly undertaken by the school, and that the IOG collaboration is an example of this. It might also alert users to possible dangers. Investors would have benefited from this knowledge prior to the recent crypto market crashes earlier this year.
Control concentration in one location creates a single point of vulnerability. In spite of the significance of decentralization, still no standard way exists to measure it across various frameworks. The EDI is going to be the initial move in resolving this problem.