Weiss Ratings: you can not invest in these 4 cryptocurrencies
The well-known rating agency Weiss Ratings published a report where the 48th cryptocurrency received very low marks (D + and below). This list includes such digital assets as:
- Aurora Chain (AOA);
- Bitcoin Diamond (BCD);
- Credits (CS);
- Mixin (XIN).
Further, consider in detail why these cryptocurrencies received such low ratings.
Aurora Chain (AOA)
Weiss Ratings: 'D-'.
Some Aurora Chain algorithms are not unique characteristics of this digital asset. In turn, the section where smart contracts are described is simply copied from Wikipedia.
Also, it is not stated anywhere who the project developers are. No visible computer code.
Bitcoin Diamond (BCD)
Weiss Ratings: 'D'
The developers of Bitcoin Diamond insisted that they would soon present a unique algorithm that would supposedly prevent major mining companies from being monopolists and developing specialized equipment for the extraction of digital assets.
But such a statement is absurd, since with a sufficient amount of investment, large companies will always be able to come up with new and improved equipment.
It should also be noted that Bitcoin Diamond has very few users. Developer support is almost absent. And very few transactions are actually performed on their network.
Weiss Ratings: 'D'
The developers of Credits claimed that the bandwidth of their network will be 1 million transactions per second. But from the evidence that they have, these are tests conducted in a strictly controlled environment with a small number of cars.
Weiss Ratings experts could not find a convincing explanation of how the platform would achieve such high goals in terms of transaction speed.
Also, the consensus algorithm is not unique at all. Many other cryptocurrencies, such as EOS, Steem, Ark, Cardano, NEO and Lisk, use a very similar algorithm.
Weiss Ratings: 'E-'
Mixin developers have argued that they will fix many cryptocurrency problems, especially security and scalability. But, unfortunately, nowhere is there a description of how the Mixin team will achieve this goal.
Moreover, there is no visible computer code.
Weiss Ratings Expert Recommendation:
Invest in these four cryptocurrencies is absolutely not worth it!
And what do you think about this?