Edgevana, Inc. (20240235862). SYSTEMS, METHODS, AND COMPUTER READABLE MEDIUM FOR DYNAMICALLY ANALYZING AND/OR MODIFYING BLOCKCHAIN NETWORKS simplified abstract
SYSTEMS, METHODS, AND COMPUTER READABLE MEDIUM FOR DYNAMICALLY ANALYZING AND/OR MODIFYING BLOCKCHAIN NETWORKS
Organization Name
Inventor(s)
Mark Thiele of Las Vegas NV (US)
Subhan Tamaddon Jahromi of Vienna VA (US)
Mohammad Nabi Paryavi of Kaysville UT (US)
SYSTEMS, METHODS, AND COMPUTER READABLE MEDIUM FOR DYNAMICALLY ANALYZING AND/OR MODIFYING BLOCKCHAIN NETWORKS - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240235862 titled 'SYSTEMS, METHODS, AND COMPUTER READABLE MEDIUM FOR DYNAMICALLY ANALYZING AND/OR MODIFYING BLOCKCHAIN NETWORKS
Abstract: A methodology to determine the level of decentralization for systems that use distributed ledger technologies—including but not limited to blockchains—that comprise an overall measure of decentralization created by summing multiple measures that are calculated using the gini coefficient and weighted using predetermined criteria, which correspond to levels of decentralization based on various criteria for the miners or validators that make up the distributed ledger system.
- Simplified Explanation:
The patent application presents a methodology for assessing the level of decentralization in systems utilizing distributed ledger technologies, such as blockchains. This methodology involves calculating multiple measures using the gini coefficient and weighting them based on predetermined criteria to determine the overall decentralization level.
- Key Features and Innovation:
- Utilizes the gini coefficient to calculate measures of decentralization - Weights the calculated measures based on predetermined criteria - Provides an overall measure of decentralization for distributed ledger systems - Offers a systematic approach to evaluating decentralization levels in blockchain systems
- Potential Applications:
- Assessing the decentralization of blockchain networks - Comparing the decentralization levels of different distributed ledger systems - Informing decision-making processes for network governance and protocol development
- Problems Solved:
- Lack of a standardized methodology for measuring decentralization in distributed ledger systems - Difficulty in comparing decentralization levels across different blockchain networks - Limited transparency in understanding the distribution of power within blockchain ecosystems
- Benefits:
- Enables a more objective assessment of decentralization in distributed ledger systems - Facilitates informed decision-making for network governance and protocol design - Enhances transparency and accountability in blockchain ecosystems
- Commercial Applications:
Title: Decentralization Assessment Methodology for Blockchain Systems This technology can be utilized by blockchain developers, network operators, and regulators to ensure a balanced distribution of power within blockchain networks. It can also be valuable for investors and users seeking to understand the governance structure of blockchain systems.
- Questions about Decentralization:
1. How does the methodology in the patent application improve the assessment of decentralization in blockchain systems? The methodology enhances the objectivity and consistency of measuring decentralization levels by utilizing the gini coefficient and predetermined criteria to calculate and weigh multiple measures.
2. What are the potential implications of using this methodology for decision-making in blockchain governance? By providing a standardized approach to assessing decentralization, this methodology can help stakeholders make more informed decisions regarding network governance, protocol development, and overall ecosystem health.
Original Abstract Submitted
a methodology to determine the level of decentralization for systems that use distributed ledger technologies—including but not limited to blockchains—that comprise an overall measure of decentralization created by summing multiple measures that are calculated using the gini coefficient and weighted using predetermined criteria, which correspond to levels of decentralization based on various criteria for the miners or validators that make up the distributed ledger system.
