The Edinburgh Decentralization Index (EDI) is an alternative metric to the Nakamoto Coefficient which measures the degree of decentralization of a blockchain network. It was developed by researchers at the University of Edinburgh and is based on the idea that a decentralized network should be resilient to attack and censorship. The EDI is calculated by measuring the number of nodes in a network, the amount of hashing power, the number of miners, and the amount of transaction fees. The EDI also takes into account the geographical distribution of nodes, the number of users, and the number of transactions. The EDI provides a more comprehensive view of the degree of decentralization of a given blockchain network than the Nakamoto Coefficient and can be used to compare different networks. It is important to note that the EDI is still in its early stages and is not yet widely accepted as a reliable measure of decentralization.
