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EOS: Weiss Ratings Reduces Coin’s ‘tech’ Score In View Of Centralization Debate

13 Jun 2019

Apart from PoW-based digital coins such as Bitcoin and Ethereum, another token- EOS network’s centralization has always been debated. The highly publicized centralization problem has led many in the community to believe that decentralization is not EOS’s “top priority”. The network has only 21 nodes which imply that a handful of people possess central authority.

A Delegated Proof of Stake [DPoS]-based crypto asset posted gains of 450% since it hit a low in December 2018 and the EOS blockchain also hosted notable decentralized applications [DApps]. Even as EOS recovered along with its peer currencies, controversies surrounding it have not cooled down. As the network’s DApp activity recorded positive figures, upon further discovery made by AnChain.AI, it was noted that 75% of the transaction could potentially be “bot activity”.

The latest criticism came from Wiess Rating, which stated that it has downgraded EOS technology score as the network was drifting further away from decentralization. The recent tweet by the international cryptocurrency rating agency only added to EOS’s “centralization” rumors. Referring to the new developments by EOS’s parent firm, Block.one, Wiess Ratings confounded:

The latest social media app roll-out of the network dubbed, Voice and the much-anticipated Coinbase listing, couldn’t significantly drive the price up as the EOS market cooled down shortly after.

Source From : Ambcrypto

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