According to Hoskinson, the wars will likely accelerate in the next 24 months, and if the sector does not get decentralization right, it will mean a bleak future for the crypto space, he said during the Web Summit 2022 on November 24. Notably, the Cardano founder stated that with the smart contract wars over, the decentralized identity would be big while noting players in the sector understand the area is ‘the choke point.’ He added:
Decentralization index
In general, Hoskinson, who also doubles up as the Ethereum (ETH) founder, stressed that the war’s winner should be decentralized to safeguard the crypto sector’s principles. Hoskinson’s sentiment comes after the Cardano parent company Input Output (IOHK) unveiled the world’s first decentralized index. As reported by Finbold, the Edinburgh Decentralization Index tool seeks to establish a transparent mechanism for rating the decentralization level of public blockchain platforms. Indeed, Hoskison had expressed his frustration with most crypto projects launching publicly on the grounds of being decentralized, yet there needed to be a specific measure to use. He maintains that decentralized projects should be based on resilience, control, and reliability. Featured image via Messari YouTube
