A top crypto rating agency Weiss Ratings, recently disclosed that many cryptos are having a better technology experience than XRP and the world’s flagship crypto, Bitcoin.
It further explained that it was able to make such judgment by using a unique model that measures data points as it ranks each crypto coin in categories such as technology, investment risk, adoption, and market momentum.
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The Model used by Weiss Crypto Ratings in determining the crypto having superior technology included measuring each cryptocurrency’s potential to achieve a variety of goals, including high transaction speeds and others like governance capabilities, flexibility to upgrade, scaling solutions, decentralization, energy efficiency, the sophistication of monetary policy.
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Weiss Ratings picked Cardano (ADA), Tezos (XTZ), Fantom (FTM), and Cosmos (ATOM) as the four top cryptos in terms of technology, giving all of them an “Excellent” rating. Holo (HOT), Ethereum (ETH), Iota (IOTA), Bitshares (BTS), Grin (GRIN), and Nexus (NXS) all received a “Good” rating from Weiss. Meanwhile, Bitcoin (BTC) and XRP both received “Fair” ratings.
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Quick fact about some of the top-ranked cryptos:
- Cardano is a type of blockchain that permits people to receive and send funds. ADA coin is the name of the cryptocurrency. It uses the Cardano blockchain. It also allows people to design smart contracts just like Ethereum. The chip can store private keys and the system proposed by Cardano’s founder will allow them to be transferred from one chip to another.
- Tezos, which was designed as a “self-amending cryptographic ledger” and uses the so-called verification model, has emerged a big fan of tokenized real-estate and security tokens.
- Cosmos is designed to enable a network of crypto networks united by open-source tools for streamlining transactions around them. The Cosmos Hub, a proof-of-stake blockchain, is powered by its native ATOM cryptocurrency.
- FANTOM is a Directed Acyclic Graph (DAG) based Smart Contract platform designed in solving the scalability issues of distributed ledger technologies.