Weiss Cryptocurrency Ratings: These Two Projects Are Better Than BTC

The cryptocurrency rating agency WeissRatings recently listed two cryptocurrencies that claim to be superior to BTC, while clarifying that Bitcoin still performs quite well in terms of network strength and adoption.

The institutional analyst Juan Villaverde stated:

Ratings are mainly based on four areas, including technology, adoption, risk, and return. While Bitcoin leads in adoption, other blockchain projects currently have higher technological content. Specifically, Fantom and Cardano.

Fantom FTM

Villaverde pointed out that Fantom is developing a new consensus mechanism in the distributed network that may change the way future distributed ledgers are built, with many features already being researched by major competitors like Ethereum or EOS. He stated:

Fantom can execute multiple transactions simultaneously, whereas traditional blockchains like Bitcoin can only write one block every 10 minutes, which limits Bitcoin. The Fantom protocol allows, and even encourages, validating nodes to generate blocks as quickly as possible.

Fantom can also easily handle smart contracts like Ethereum, but eliminates any bottlenecks encountered by the Ethereum blockchain.

Weiss Ratings also pointed out that although this technology is promising, it is largely experimental as it has not been released, making it difficult to discover obstacles and limitations. The team is offering rewards to various parties to help eliminate any code bugs before the mainnet launch.

Cardano ADA

Villaverde stated that Cardano brings together all high-quality elements to create a powerful proof-of-stake blockchain project, including top mathematicians, engineers, and computer scientists working on the project, always leaving a strong impression. He mentioned:

Almost all aspects of Cardano are of higher quality compared to other projects, making it "one of the most complex projects among all cryptocurrencies," and what sets it apart is the way developers are building it.

The rating pointed out that the Cardano team has always avoided hype, submitted rigorous whitepapers for peer review, uploaded detailed videos on how to implement each new feature, and clearly disclosed any challenges.

The team's attention to detail is praised by Weiss Ratings, with Villaverde stating:

Cardano is becoming a platform that "aspires to provide critical infrastructure for the global financial system," which sharply contrasts with the fast and loose mentality of most crypto projects.

The rating also lists three challenges currently faced by Cardano, including low utilization, with transaction speeds reaching only 250 per second, making Cardano one of the slowest among all proof-of-stake cryptocurrencies.

The third challenge is over-centralization, as the founding team still controls all nodes, making it difficult for Cardano to confidently claim that it is built on distributed ledger technology.

Further Reading

• 2019 Mid-Year Cryptocurrency Industry Report
• "Power to the People" Shouts at the Berlin Web3 Summit