Bitcoin gets a C in Weiss Ratings
The first ever cryptocurrency rating is good news for Ethereum
The eagerly anticipated Weiss Ratings for cryptocurrencies, the first attempt to rank the newest asset class, has given Bitcoin a C+ in it’s a to F grading system.
None of the 74 rated cryptocurrencies currently get an A grade, but Ethereum, the second-largest cryptocurrency by market capitalisation, got a B – or “good”.
The cryptocurrencies were rated on four criteria: Risk Index, assessing the downside; Reward Index for the potential rewards; Technology Index, that looks at the underlying source code and how robust, flexible and scalable it is; and Fundamentals Index, which is about its use real-world scenarios.
Despite the C+, Bitcoin did get excellent scores for security and widespread adoption. But it is encountering major network bottlenecks, causing delays and high transactions costs.
Ethereum’s B was based on its readily upgradable technology and better speed, despite some bottlenecks.
Ripple, which seems to have the most mainstream adoption by financial instiutions, only managed a C.
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