EOS, the seventh-largest cryptocurrency in the marketplace has seen its scores downgraded to “C” by the crypto rankings firm, Weiss Crypto Rankings. In a tweet, printed on December 6, Weiss acknowledged that the Block.one cryptocurrency has seen a “Failure to decentralize,” and therefore it has been handed this setback.
Their tweet learn,
1/6 We’ve had nice respect for work and considering that went into the #EOS undertaking. However the Weiss Crypto Rankings mannequin just isn’t based mostly on opinion. It’s pushed by knowledge. And that knowledge has now prompted a downgrade from B to C-. Right here’s why (full article to be printed quickly):
— Weiss Crypto Rankings (@WeissCrypto) 6 December 2019
Again in March 2019, Weiss launched a report titled “Darkish Shadows with a Vivid Future,” analyzing over 120 cryptocurrencies and rating them based mostly on two metrics – adoption and expertise. EOS positioned second, behind XRP, within the listing of cryptocurrencies with one of the best mixture of the 2 metrics, forward of Bitcoin, Ethereum and Cardano, that made up the top-5.
Apparently, Weiss on the time of awarding solely three cryptocurrencies an “A,” ranking – Bitcoin, EOS, and XRP acknowledged that EOS may give Ethereum a tussle to change into the “spine of the brand new web.”
Nevertheless, within the time since, EOS’ “A” has pale to a bleak “C.” In June, Weiss dished out the primary set of downgrade to EOS, bringing its ranking all the way down to “B” citing “critical issues with centralization.” Their tweet acknowledged
EOS DOWNGRADE: #EOS has critical issues with centralization, and their occasion final week did something to alleviate that, so we’ve severely downgraded its expertise rating. It’s now as much as #ADA to launch a very decentralized #PoS #blockchain. No strain.#crypto #Cardano #BTC
— Weiss Crypto Rankings (@WeissCrypto) 7 June 2019
This downgrade was following Block.one’s unveiling of “Voice,” a blockchain based mostly social media platform utilizing the EOS blockchain. Moreover, throughout the identical time, Block.one joined the Coinbase Earn program, permitting customers to earn the digital forex for watching informative content material on the interior workings concerning the cryptocurrency and blockchain area.
In November, Weiss reignited their assault on EOS, this time referencing Cardano. The scores agency acknowledged that Cardano is “clearly superior,” to EOS, owing to a slew of issues with the Block.one digital forex. They substantiated their declare stating,
#Cardano is clearly superior to #EOS. EOS was first to market, but it surely’s turning into more and more clear that of the 2, Cardano is vastly superior. Extra particulars on this in subsequent tweets. #ADA #crypto #cryptocurrency
— Weiss Crypto Rankings (@WeissCrypto) 13 November 2019
AMBCrypto has reached out to the Block.one group, and are awaiting a reply on the identical.