Weiss Ratings Peg Cardano’s Tech Better than Ethereum
As per Weiss Ratings, Cardano’s technology is better than Ethereum’s. Cardano’s technology is now regarded as “outstanding,” whereas Ethereum’s is ranked as “good.” Polkadot, whose architect Gavin Wood was a co-founder of Ethereum, and also Fantom, Cosmos, and Tezos, are other cryptocurrency ventures that rank higher than the #1 altcoin. Ethereum, on the other hand, remains the king, on the basis of criteria like acceptance propelling it higher in the rankings. Altogether, Bitcoin is ranked second.
Ethereum has an overall grade of A- as per Weiss Crypto, the research firm’s digital asset-focused division. It ranks first in terms of adoption and second in terms of market efficiency. Bitcoin is ranked second with a B rating, followed by Stellar and Cardano with a B-. Ripple, Litecoin, Zcash, Dash, Monero, and Dogecoin all receive a grade of C+.
It’s worth noting that Dogecoin’s technology is deemed “extremely poor.” Regardless of the fact that DOGE developers revealed a few weeks ago that they had been engaged with Elon Musk for years to enhance the technology and make it acceptable for transactions, this is still the case.
Dash and Monero, the two most popular privacy currencies, are both classified as ‘weak’ in terms of technology. Upon the confiscation of the BTC sent as ransom to the Colonial Pipeline hackers, Monero is said to have grown increasingly popular among cybercriminals in recent times. Notwithstanding their technological prowess, it appears that some hackers were ignorant that BTC is easily detectable and not at all private.
The Weiss Crypto Ratings are updated weekly to highlight the most current crypto trends. “They are centered on a revolutionary algorithm that evaluates hundreds of data inputs on each coin’s technology, acceptance, risk profile, and market impulse,” the business writes in a blog entry. The business wants to assist investors in avoiding the frenzy and choose “the few strong and emerging cryptocurrencies that genuinely deserve their attention.” The evaluations put Cardano above of Ethereum in terms of technology and market performance, fueling the Cardano vs. Ethereum controversy.
Cardano, along with other blockchains like Polkadot, has also been dubbed the Ethereum killer. Ethereum 2.0, on the other hand, is the Ethereum killer to begin with, as per its inventor, Charles Hoskinson.
In a recent interview, Hoskinson discussed further attributes that make Cardano superior than the altcoin monarch, even after the latter’s revival under proof-of-stake. One of them is conformance and management as Cardano combines autonomous regulation, decentralized identification, and information, which Ethereum cannot, as per him.