Weiss Ratings identified four cryptocurrencies that are categorically not worth investing

0

Financial rating Agency Weiss Ratings has assigned a rating of D+ or below 48 cryptocurrencies. Among them was Aurora Chain (AOA), Bitcoin Diamond (BCD), Credits (CS) and Mixin (XIN).

4 crappy cryptos you shouldn’t touch with a ten-foot pole: Aurora Chain (#AOA, rated D-), #Bitcoin Diamond (#BCD, rated D), #of Credits (#CS, rated D) and #Mixin (#XIN, rated E-). For the reasons why, check out Juan”s latest post at: https://t.co/HbAXk1yLbp pic.twitter.com/2za0v5uDmR

— Weiss Ratings (@WeissRatings) October 24, 2018

So, in the Weiss Ratings noted that the description of smart contracts in the white paper of the project Aurora Chain could be partially copied from Wikipedia. Moreover, the combination of the algorithm Delegated Proof-of-Stake (DPoS) and resistance to Byzantine errors are not a unique feature of the cryptocurrency, the report said.

At the same time, know the personality of the developers and details of the product they create, added Weiss.

Team Bitcoin Diamond, said in the rating Agency promised to prevent monopolization of mining in the hands of large players at the expense of specialized equipment, however, according to Weiss, it’s an impossible promise, because such players can optimize any algorithm, and the question for them rests only in the volume of investment.

In the Credits threatened to create a network with throughput of millions of transactions per second, however further tests in a centralized environment, confident in the Agency, the developers have not yet moved. Moreover, the claimed consensus algorithm is almost indistinguishable from EOS, BitShares or Cardano.

The developers Mixin intended to solve the existing problems of cryptocurrency, including security and scaling. However, in Weiss believe that LinkedIn accounts team can be fake. In this white paper does not contain any technical details that would explain how to work this “universal solution”. Decentralized application from the Mixin, the report says, also does not perform the claimed functions.

Recall that in late may, Weiss Ratings were the next top cryptocurrency in which EOS and Cardano has been awarded grade B, and bitcoin: B-.

Subscribe to the news ForkLog in VK!

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.