As a contributing member of several crypto communities and platforms, I get a little protective when I see negative news about them. As I saw news article titles that shilled “Weiss Ratings downgrades EOS over serious centralization issues,” I went digging for more information.
Here is what I’d found:
One tweet from Weiss Ratings. This alone brought out hundreds of responses and prompted a few news articles to announce the big news… the downfall… What horrors befall EOS because of this tweet!? The sky is falling! The sky is falling!
But the sky is not falling.
At the time of this article, I’ve reached out for clarification and where an official announcement could be found from Weiss Ratings. I’ve also queried for responses from Brendan Blumer and the team from Block.One and GoodBlock. I have not gotten a response as of yet.
Digging a little deeper…
Weiss Crypto Ratings understands the volatility of the crypto market and their data points to risk and reward, technology and token adoption in the real world. Since beginning their operations in 1971, their analyses is trusted in financial and cryptocurrency sectors because their ratings are based on independence, integrity, and objectivity.
EOS has got a solid overall B rating with their risk grade still higher than many of the cryptocurrencies on their list.
And this is the section that started this whole hullabaloo: Top Coins by Technology where EOS got a tiny snub, if you can even call it that.
So, you see? The sky is not falling. EOS is doing just fine despite the Weiss rating. But I would definitely like to interview Brendan Blumer or Dan Larimer about their thoughts on this perception of centralization. Call me!
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