New Weiss Rank Downs EOS For Failing To Decentralize
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Answer New Weiss Rank Downs EOS For Failing To Decentralize
Negative reports from Weiss continue to rain down on EOS, after the previous report:
Weiss Report: Cardano is way ahead of EOS
Weiss published a new ranking of cryptocurrency projects on December 6 in which EOS project, the seventh largest cryptocurrency by total market capitalization, was demoted to the “C” rank.
Announcing Weiss’ EOS Downgrade In a tweet posted on December 6, Weiss stated that Block.one’s cryptocurrency had experienced a “failure to decentralize” and was therefore affected by the setback.
1/6 We have great respect for the work and thinking that went into #EOS project. But the Weiss Crypto Ratings model is not opinion-based. It is data driven. This data has now caused the rating to be downgraded from B to C-. Here’s why (full article will be posted soon):
Read:Crypto Circle (who is behind the USDC stablecoin) is under investigation by the SEC
– Weiss Crypto Reviews (@WeissCrypto) December 6, 2019
According to the same classification, the EOS project was ranked second after the Ripple project in the March 2019 rankings, as the rating analyzed 120 cryptocurrencies, at the top of the rating was the Ripple currency, followed by the EOS currency, outperforming Bitcoin, Ethereum and Cardano, who ranked in the first five ranks.
Interestingly, Weiss previously gave only three cryptocurrencies an “A” rating:
Bitcoin, EOS, Ripple.
However, over time, the EOS project fell from an “A” rating to a “C” rating.
Prior to that, rating platform Weiss downgraded EOS from Group A to Group B and indicated that it had real problems at the level of decentralization.
This reduction coincided with Block.one’s revelation that Voice, an EOS blockchain-based social media platform, is nearing its official launch.
In addition to the announcement of Block.one joining Coinbase’s earning program, allowing users to earn digital currency by watching Coinbase’s media content related to the cryptocurrency and block space.
Read:Analysis: Bitcoin Needs to Recover $53,000 to Return to Bull Racing
Read also:
Vitalik Buterin presents proposals for the development of the EOS network
EOS network has a real problem
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