Weiss Ratings: Three Crypto Assets Have Better Tech Than Bitcoin
Weiss Ratings thinks three crypto assets are operating on better technology than Bitcoin.
The financial ratings agency tells its subscribers in a recent video that both Fantom (FTM) and Cardano (ADA) are currently scoring higher tech marks than BTC. The third crypto asset has not yet been publicly revealed.
Juan Villaverde, the architect of the Weiss Cryptocurrency Ratings tells Decrypt,
“Our position is that there are several distributed ledgers that have more advanced technology than Bitcoin’s. However, that may not necessarily make them better than Bitcoin overall.”
Fantom is a DAG-based smart contract platform that addresses the issue of scalability and the requirements for confirmation time on the blockchain. Villaverde says FTM is “pioneering a novel way to reach consensus in a distributed network.”
In its asset review, the ratings agency mentions that unlike Bitcoin, Fantom has both finality in transactions and the ability to perform multiple simultaneous transactions.
“On Fantom, multiple new transactions can be written simultaneously by multiple validators. This gives it the potential for formidable processing speed.”
Cardano is a fully open-source smart contract platform. Says Villaverde,
“Cardano has always impressed us with the high quality of all the elements that contribute to a robust Proof-of-Stake blockchain-based ledger.”
The Weiss review reportedly notes Cardano’s comprehensive, transparent approach to development, with peer-reviewed conference papers, detailed videos on new features and upfront disclosures of issues.
Weiss, however, also takes investment risk/reward potential and adoption into account in its overall coin reviews. Fantom has an overall “C” rating due to low adoption and risk/reward scores. Cardano’s adoption is ranked as “good” but only has an overall “C+” rating due to bad risk/reward marks. Bitcoin has an overall “B” rating.
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