Weiss Ratings Downgrades EOS Due to Centralization Concerns as Cardano (ADA) Looks to Shine

  • Weiss Ratings downgrades EOS due to concerns regarding centralization.
  • Cardano could experience an improved score in the future
    Weiss Ratings, an independent rating agency that works by rating different assets and digital currencies, announced.

Weiss Ratings Downgrades EOS Rating

EOS’s technology score has been downgraded by Weiss Ratings after several months in which the network didn’t do anything to improve its centralized network. According to Weiss Ratings, it is now up to Cardano (ADA) to launch a truly decentralized Proof-of-Stake (PoS) blockchain.

EOS Still Has An A- Rating

EOS was considered to be the best digital currency by Weiss Ratings, performing better than Ethereum (ETH) and Bitcoin (BTC). The digital currency obtained the highest mark in tech/adoption, two of the categories analyzed by Weiss Ratings. After that announcement, the digital currency surged more than 10%, creating enthusiasm in the market.

Although EOS has been downgraded by Weiss Ratings, it still has an A- rating, compared to Litecoin (LTC) or Cardano that have B+ each of them in the technology score.

Cardano is also evolving. IOHK has also announced its updated roadmap in which they explain which are going to be the next stages in their development, including Shelley and Goguen.

Cardano’s roadmap reads as follows:

“Cardano is a groundbreaking proof-of-stake blockchain network, being developed into a decentralized application (dApp) development platform with a multi-asset ledger and verifiable smart contracts.”

Weiss Ratings will be closely following whether Cardano is going to be completely decentralized with the Shelley improvement or not. Meanwhile, with Goguen, the goal is to reach a larger number of users.

EOS is currently the sixth largest digital currency in the market with a valuation of $5.95 billion. The virtual currency has also a price of $6.48 per coin. In the last 24 hours, the virtual currency remained stable close to 0.05%.

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