  There have been several studies into measuring the level of decentralization
in Ethereum through applying various indices to indicate the relative dominance
of entities in different domains in the ecosystem. However, these indices do
not capture any correlation between those different entities, that could
potentially make them the subject of external coercion, or covert collusion. We
propose an index that measures the relative dominance of entities based on the
application of correlation factors. We posit that this approach produces a more
nuanced and accurate index of decentralization.
