University of Edinburgh and Cardano Builder IOG Launch First Ever Decentralization Index

Under the current circumstances, it seems that DeFi is moving to the next stage and undertaking a more constructive approach.

To this end, Input Output Global, or IOG, the parent company behind Cardano, has announced the first-ever Blockchain DeFi Index.

It is worth noting that an Index is a mix-plate of the top asset products in any trading market, such as stocks, commodities, etc.

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The index has been named the Edinburgh Decentralized Index or EDI on account of its developers.

To make this Index happen, IOG has joined hands with the University of Edinburgh. The main aim of the partnership is to come up with a transparent algorithm for ranking the best DeFi projects from public blockchains.

EDI will Act as a Live Tracker

The first news about this Index was updated in a new blog post on IOG official site. As per the contents of the blog EDI will operate like a live tracker for public blockchain performance ranking.

It will be backed by a calculated and reviewed methodology by a team of DeFi developers at the University of Edinburgh.

EDI will also consider the risk factors as an evaluation metric. Other important categorization factors include options like volatility and innovation.

Commenting on the subject, Cardano founder Charles Hoskinson claimed that EDI could be seen as a revolutionary project and fill the gap for the industry standards in the crypto sector.

The matter of blockchain projects backed by private companies and operating in a pseudo-centralized fashion has always been a major issue.

On this matter, Hoskinson also mentioned his reservations claiming that several blockchain projects are not fully decentralized but market themselves as such.

He further explained that EDI would work on bringing more transparency for the crypto investors by laying the grounds for proper DeFi classification.

He further said that being decentralized is characterized by important aspects of a project, such as level of control, resilience, and structural integrity.

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