Ratings Firm Grades Ether Higher Than Bitcoin, Kindles Online Backlash And a Cyberattack

Ratings Firm Grades Ether Higher Than Bitcoin, Kindles Online Backlash And a Cyberattack

Recently, Weiss Ratings released the first evaluation of digital currencies, including the most outstanding ones as bitcoin and ether. The firm claims to have published the ‘fist,’ ‘unbiaseed’ cyber money ratings, which have been met with a lot of outrage online and even a cyber attack.

No Straight-A

On Wednesday, January 24, Weiss Ratings issued an evaluation, according to which such assets as ethereum and EOS are better than the commonly top-rated bitcoin. Having received a B grade, ether and EOS made the top list, leaving bitcoin and 71 other cryptos pull up the rear. It also means that no cyber currency at all managed to get an A rate.

Our top trading bots

Bitcoin, in its turn, obtained, according to the firm, a “fair” C+ grade. The reason why the evaluators gave it such a rate lies in the BTC network overload, which has caused the rise of transaction fees as well as the prolongation of the waiting time in the mempool. In a press-release, Weiss Ratings stated:

"Despite intense ongoing efforts that are achieving some initial success, Bitcoin has no immediate mechanism for promptly upgrading its software code."

On the other hand, despite some troubles, ethereum was put at the forefront due to its technology, which is capable of streamlining, providing high transactions speed.

Why So?

So why is the assessment have no ‘A’s? Such out-and-out approach seems to be a peculiar feature of Florida-based Weiss Ratings. According to The New York Times 1992 report, as well as the one from Barron's 2002, Weiss Ratings’ so-called “greediness” for high grades, can be explained by the coverage of investment funds, actuarial stocks and other types of financial assets.

Commonly, it goes off the grid in the light of such rating giants as Standard & Poor's and Moody's. However, the firm with 47 years of decentralized financial rating experience claims that it does not receive rewards from the firms it grades for conducting the evaluation.

Firing Back at Negative Rating

As CNBC reported, international cyber money investors were obviously concerned a lot about Weiss releasing the unpleasant evaluation of cryptos. So no wonder that those who were dissatisfied with Weiss attitude could have come out with backlash.

On January 23, the rating firm stated that users on South Korean social networks were urging others to attack Weiss’s site. The agency informed that later the cyberattackers broke into the site, stole data and now juggle with it on the internet. Nevertheless, that did not stop the agency from releasing the rating.

Kazakhstan’s government to create roadmap for developing crypto market
Kazakhstan’s government is forming a roadmap to stimulate the development of the cryptocurrency industry and blockchain technology in the country.State...
iExec RLC rallies 400% after big-name collaborations and Coinbase listing
Since the summer of 2020, decentralized exchanges (DEX) have been all the rage and in 2021 developers and investors continue to flock to the sector due...
Four crypto veterans pledge to give at least 1% of their wealth to charity each year
Four crypto and blockchain veterans have joined Founders Circle, an industry group supporting The Giving Block’s new crypto-focused charity drive. The “Crypto...
Poor infrastructure stops farmers taking advantage of blockchain
While the agricultural industry stands to reap enormous efficiency savings through the adoption of distributed ledger technologies, many farmers lack the...
Michael Jordan, Will Smith join $305M funding round for NBA Top Shot maker Dapper Labs
NBA Top Shot maker Dapper Labs has secured about $305 million in new funding round from investors.According to a report by Business Insider on Tuesday,...
CBDCs won’t entirely replace cash if the US Fed gets its way
Many expect that a time could soon come when central bank digital currencies, or CBDCs, replace physical dollars once and for all. Comments from United...
Ethereum Becomes Second Most Valuable Crypto Again
Ethereum has finally recovered and reclaimed its title of the second most valuable cyber-asset in the world after its elder brother bitcoin. Gaining the...
Report: Survey Shows People Use Cryptos More For Remittances
People tend to send remittances using bitcoin and its brethren more shows new research by a BLT-centered research company. Such a spike can be explained...
Bitcoin’s «Dead» in a Long-Run, Says Young BTC-Millionaire
On December 17, on a day when a year ago bitcoin hit the all-time $19,000 record, the «big daddy» rebounded to $3,595. This is the highest result for bitcoin...
Ether Capital Shares Start Trading On Toronto Exchange
Crypto-companies keep conquering the field of finances. In particular, Ether Capital – the stock of cyber assets investment firm – started trading on NEO...
UN World Food Program May Refuse Banking Services
The head of the World Food Program (WFP) Robert Opp said that his department is developing a financial infrastructure for the more efficient use of distributed...
Crypto-Bubble Session To Be Held in Davos For The First Time: Concerns
This week, for the first time ever the World Economic Forum in Davos (Switzerland) is holding a session “The Crypto-Asset Bubble”. Scheduled for 17:00...
Sberbank Has Opened a Blockchain-Lab
Sberbank, Russia's largest bank, opened a laboratory to study the latest technologies of the blockchain. This was reported in the press service of the bank.The...
Egypt’s Grand Mufti Called Bitcoin Trading Wrongful
In accordance with Islamic Sharia, trading of the most prominent cryptocurrency bitcoin is wrongful. Such a statement recently made the Grand Mufti of...
The Largest Bubble of All Time? Bitcoin Overcomes Tulip Mania
Four months have passed since the historical drama “Tulip Fever” was opened in cinemas. For the past four months, bitcoin has grown in price by 4.2 times...