New York Lawyers Propose Toolkit for Keeping ‘Decentralized’ Blockchains Honest

New York Lawyers Propose Toolkit for Keeping ‘Decentralized’ Blockchains Honest
Figuring out whether a blockchain network is sufficiently decentralized could have broad ramifications.

A New York law firm is trying to test blockchain projects’ decentralization claims against their perhaps not-quite-so-distributed realities.

Called the “Ketsal Open Standards” rubric, the toolkit, developed by the and revealed exclusively to CoinDesk, proposes using hard, measurable data points to either bolster or burst a blockchain’s decentralized credentials. 

It’s the latest contribution to a long-raging debate in crypto: when, and how, is something truly decentralized? 

Finding that key, said toolkit co-creator and Ketsal partner Josh Garcia, can help investors, security researchers and even securities regulators root out blockchain projects’ sometimes bogus claims.

“It’s a tool to push along an informed discussion on what you’re talking about when you’re saying, ‘my network is decentralized.’”

“Now you can push back” with evidence the assertion is demonstrably false, he said.

Garcia and co-author Jenny Leung’s Open Standards is hardly the first decentralization measurement toolkit. But a review by CoinDesk shows it to be one of the most robust. 

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