Weiss Ratings has downgraded its rating of cryptocurrency EOS due to “serious problems” with centralisation.
The US-based financial research firm previously ranked EOS alongside Bitcoin and XRP in a report on emerging trends in the crypto space. But in a tweet dated 7th June, it said that an event hosted last week by EOS developer, Block.one, failed to alleviate (the problems), “so we’ve severely downgraded its technology score”.
EOS DOWNGRADE: #EOS has serious problems with centralization, and their event last week did anything to alleviate that, so we’ve severely downgraded its technology score. It’s now up to #ADA to launch a truly decentralized #PoS #blockchain. No pressure.#crypto #Cardano #BTC
— Weiss Ratings (@WeissRatings) June 7, 2019
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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.