There’s no denying that cryptocurrencies have caught the interest of many; however, it hasn’t been to the very best reasons. At the beginning of the year, it was announced that cryptocurrencies will be recorded, utilizing the Weiss Rating scale.
The evaluation scale takes into consideration that the investor and reward, and the technology and adoption principles. It’s graded from A to E, where D & E are deemed weak and very feeble respectively. The most recent ranges have shown which cryptocurrencies you should avoid. The subsequent virtual monies received a rating of D or reduced; Auroracoin, Comet, Electroneum, Expanse, Gulden, Matchpool, Magacoin, Novacoin, PotCoin, Quark, Growth, and SaluS.
It is crucial to point out though that these are updated regularly and can vary. Bitcoin, that’s the quantity one cryptocurrency by market capitalisation, has been awarded a Weiss score of C, despite being praised especially for the security and widespread adoption. They justified this low score because of the high trade costs. The good thing for Bitcoin is though that its grade has been updated to ab -.
Along with all that has been mentioned; the Weiss rating also takes into consideration the Lightning Network adoption gains, which really is really a scaling solution that will be developed in addition to Bitcoin. The White Paper stated;
“While we continue to monitor its progress with interest, our Technology Index is not designed as a crystal ball of future upgrades, but as a tool to evaluate the state of the art as it stands today. Thus, as soon as the Bitcoin network becomes more efficient, our rating model, updated daily with new performance data, will reflect the improvement.”
So, the likelihood is that Bitcoin’s grade will improve even more over the coming few months.
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