Weiss Crypto Ratings Drops EOS Over Centralization Concerns but Who Cares

Weiss Crypto Ratings on Friday announced that it is downgrading the technology score of EOS, a blockchain protocol developed and distributed by Block.one. The US-based economic research agency said EOS has “serious problems with centralization,” three months after it put the project among the top three blockchains alongside Ripple and Bitcoin.

Weiss argued that Block.one has taken no necessary steps to improve the protocol, adding that not even the firm’s event last week, wherein it announced Voice, an upcoming social media platform taking on a behemoth rival in Facebook, did anything to alleviate the centralization issues.

Weiss’ take on EOS, nevertheless, appeared drastic than well-researched. Earlier, the agency continuously placed the Block.one’s protocol atop other blockchain projects, calling it A-grade. The favorable rating came despite multiple reports/complaints finding the centralized nature of the EOS blockchain. Los Angeles-based Whiteblock, for instance, called EOS a glorified cloud computing service that lacked blockchain’s most essential features, like immutability.

Reference: https://www.ccn.com/weiss-crypto-ratings-demote-eos-centralization

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Author: Neo Anderson

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