Weiss Ranks Ethereum Better than Bitcoin: January 24, 2018
There’s now an official cryptpocurrency rating system There’s now an official cryptpocurrency rating system
9 Hours Ago | 00:50
Weiss Ratings, which claims to offer the first “ratings” on cryptocurrencies, has judged ethereum to be better than bitcoin.
The securities ratings agency announced Wednesday that it gave ethereum a B rating because it “benefits from more readily upgradable technology and better speed, despite some bottlenecks.”
Bitcoin received a “fair” C+ rating because the digital currency is “encountering major network bottlenecks, causing delays and high transactions costs,” according to a release. “Despite intense ongoing efforts that are achieving some initial success, Bitcoin has no immediate mechanism for promptly upgrading its software code.”
None of the 74 cryptocurrencies the agency covers received an “excellent” A rating. B-rated ethereum and digital currency EOS have the highest ratings.
That tough take is apparently a trademark of the 47-year-old independent financial ratings agency. Reports from Barron’s and The New York Times from 2002 and 1992, respectively, note Weiss’ lack of A ratings in coverage of insurance stocks, mutual funds and other securities. The Florida-based company usually flies under the radar in comparison to better-known agencies such as Standard & Poor’s and Moody’s. Weiss says it does not accept compensation from the companies it rates for issuing the rating.