Cardano ‘Vastly Superior’ to EOS, Claims Weiss Crypto Ratings

Weiss Crypto Ratings, the cryptocurrency-focused arm of Weiss Ratings, has tweeted that the next generation cryptocurrency project, led by Ethereum’s former Chief Executive Officer (CEO) Charles Hoskinson, is “vastly superior” to that of EOS, a competing project. However, despite this, on Weiss Crypto Rating’s official ranking page, EOS remains above with an ‘A-‘ grade as opposed to Cardano’s ‘B+’ grade.

#Cardano is clearly superior to #EOS. EOS was first to market, but it’s becoming increasingly clear that of the two, Cardano is vastly superior. More details on this in subsequent tweets. #ADA #crypto #cryptocurrency

— Weiss Crypto Ratings (@WeissCrypto) November 13, 2019

Weiss Embraces Cardano

Both Cardano and EOS are working on technological solutions that would present themselves as better alternatives to Ethereum. All three projects are working on scaling, performance, and security improvements that would allow their respective blockchains to function at a commercial level on a global scale. Weiss has spoken positively of Cardano before. In a subsequent tweet, Weiss Crypto elaborated that Cardano recently took a major step forward by completing the first snapshot and balance check on its recently launched Shelley testnet.

#Cardano completed the 1st snapshot and balance check for its incentivized #Shelley testnet. This latest step toward staking will allow investors to earn rewards on their $ADA for the 1st time. Don’t forget to move your #ADA to Daedalus wallet if you want to participate.

— Weiss Crypto Ratings (@WeissCrypto) November 13, 2019

Both Cardano and EOS are seen by developers and the crypto community as long-term endeavors. The former is taking a very academic approach towards building their network, while Brendan Blumer, the CEO of EOS’ development company Block.One, has said that “great things take time,” referring to the pace with which EOS was developing.

Crypto Ratings Groups Differ in Opinion

Weiss regularly rates various cryptocurrency projects based on different criteria that include the technology itself, adoption, risk, and reward. Each token is given a ‘risk/reward rating,’ as well as an overall letter grade. Bitcoin and Ethereum are the only two projects that have received an ‘A’ rating, while EOS and IOTA follow with an ‘A-‘ grade. The tweet from Weiss suggests that Cardano may soon be given a higher grade, or that EOS may be downgraded. Weiss Crypto is not the only entity to rate cryptocurrencies. China’s state-backed, Center for Information and Industry Development (CCID), periodically releases ratings as well, and its latest iteration rated EOS as the best token, which was released in late September. Bitcoin was ranked eleventh, Ethereum third, and Cardano 31st on the same list.

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