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Weiss Crypto Ratings Lowers EOS Score Due to Centralization

EOS

Weiss Crypto Ratings, a company and platform that rates different cryptocurrency and blockchain projects based on a variety of factors, has recently lowered the EOS project ratings from a B to a C-.

Part of this is due to the project’s sort of centralization, meaning that the top 0.01% of all EOS holders control around 68% of the voting power on the network.

On top of this, there is a “Misallocation of resources – Fractional Reserve CPU, Resource Exchange (REX), and the most recent proposed overhaul all failed to solve the growing problem of clogged network and as a result, caused frozen transactions for the majority of small EOS token holders.”

It’s also worth noting that this isn’t a full explanation. Instead, the team plans on discussing everything in a blog post later on, as Twitter is a bit too short-form to allow for such an explanation.

Of course, many EOS maximalists and fans aren’t a fan of this decision, as Weiss Crypto Ratings is somewhat highly regarded in the industry. “Your opinion and your ratings are worthless. true,” someone said on Twitter in a response to this tweet.

Another user even claimed that “Only one crypto has the biggest usecase: XRP.” We’ll have to see if EOS recovers from this rating, and if it affects the project in the long term.

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Max Moeller

Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend. LinkedIn: https://www.linkedin.com/in/maxwell-moeller-912044b4/