Weiss Crypto Ratings: EOS rating downgraded due to problems with centralization, waiting for solutions from Cardano

The cryptocurrency division of the rating agency Weiss Ratings announced that it was forced to downgrade the EOS rating due to "serious problems" with the centralization of the project.

EOS DOWNGRADE: #EOS has been seriously downgraded by its technology score. Up closeup now! Just's It to #ADA to launch a truly Decentralized #PoS #blockchain . No pressure. #crypto #Cardano #BTC

– Weiss Ratings (@WeissRatings) June 7, 2019

Weiss Crypto Ratings also noted that the EOS event held last week in Washington, at which the Voice social network was presented, did not give any convincing answers that would help dispel doubts about the centralization of the project.

It is for this reason that the EOS technology score was “significantly reduced.”

At the same time, Weiss Crypto Ratings makes it clear that the main expectations are now connected with the Cardano project (ADA) – it is he, analysts say, who is able to offer a truly decentralized model based on the Proof-of-Stake (PoS) algorithm.

Recall that in March, Weiss Ratings presented a report on emerging trends in the digital asset market. In it, EOS, having received a rating of A, was named the main competitor of Ethereum for the status of technology, which will become the foundation of the new Internet.

At the same time, Cardano was awarded the B + rating and described as a project that “strives to ensure the most advanced functionality of smart contracts, monetary policy and management”.

During the presentation of the social network Voice, the EOS developers also stated that they are preparing other significant updates, including the second version of the EOSIO 2 protocol, as well as the EOS VM, a new network engine for working with blockchain applications. It is assumed that EOS VM will increase the speed of execution of smart contracts in the EOS blockchain by 12 times. In addition, security will be enhanced in EOSIO 2 and support for YubiKey devices will be added.

As for the Voice social network itself, then, as it became known later, to participate in it, users will have to undergo mandatory verification , for which the project is supposedly ready to even pay.

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