News

Weiss ratings Agency Downgraded EOS!! Why?

The only reputable financial ratings agency that deals with crypto is the Weiss ratings agency. This agency has just downgraded the technology score of EOS. This news has come up when the cryptocurrency started facing issues related to centralization.

According to the Crypto Compare reports, only a handful of projects are able to live up to Satoshi’s vision. As per the statistical data, 85 percent of cryptocurrency projects are still influenced by their developers. As they have the power to alter the protocol of a certain coin in accordance with their own needs.

However, during March, EOS was one of the top leading cryptocurrencies as per the Weiss Ratings. No doubt the coin also managed to take care of its position in the tech/adoption department. Also, this recognition didn’t go unnoticed as the Ethereum competitor experienced a double-digit price increase shortly after the announcement.

The Weiss Ratings Agency also claims that it’s Cardano’s turn to step into the breach and launch a “truly decentralized” Blockchain. This blockchain is completely based on proof-of-stake algorithm.

It will now be interesting to see whether Shelley, the project’s next development phase which will bring complete decentralization turns to be successful.

Also, another prominent Blockchain 3.0 project, IOTA, got rid of its centralized coordinator with the help of the long awaited Coordicide update.

What is your opinion on this reports by the Weiss Ratings Agency? Share your thoughts on our Twitter and Facebook pages.

Tags
Show More

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

five × 4 =

Back to top button
Close