Cardano (ADA) founder Charles Hoskinson has warned of an impending decentralized sector identity war as the crypto Secteur moves towards mass adoption.
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 gesot 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.’
“It’s going to be one of the most competitive areas in the space the next 24 months. The smart contract wars are over; it’s commoditized, and lots of stuff is happening. The identity wars have yet to begin, and this is going to be a big one.”
En huet gesot:
“There’s a boatload of entities that are starting to subtly get involved in this stuff, and because they know this is the choke point and they really want to control it, and for the sake of the industry, we need to make sure that whoever wins is decentralized.”
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 confirméiert 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.
"Ech sinn midd an enger Industrie ze sinn wou all eenzel Persoun seet; mir sinn dezentraliséiert. Wat heescht dat? Mir hu kee Wee fir ze moossen. Et ass wéi ze soen datt mir performant sinn. <...> Dës si just puffy. Dëst si just Wierder. De Problem ass datt Dezentraliséierung eng Miessung vun der Widderstandsfäegkeet ass. Et ass eng Messung vu Kontroll. Et ass eng Miessung vun der Zouverlässegkeet, an et ass op der Manéier wéi d'Protokoller entworf sinn, "sot hien.
He maintains that decentralized projects should be based on resilience, control, and reliability.
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Source: https://finbold.com/cardano-founder-warns-decentralized-id-war-is-going-to-be-a-big-one/