Tezos (XTZ), a proof of stake (PoS) based smart contracts blockchain network has outranked leading projects including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA) and XRP in terms of technology, in the latest Weiss Ratings rankings, reports FXStreet on April 23, 2020.
Tezos Hits Number Spot in Weiss Ratings
Per sources close to the matter, Tezos (XTZ) a blockchain network that claims to provide safety and code correctness required for the tokenization of real-world assets, has dwarfed established networks like Bitcoin, Ethereum and Ripple’s XRP Weiss Ratings’ latest top ten cryptocurrencies by technology.
Weiss Ratings, a rating agency established in 1971, ranks more than 120 leading blockchain networks and cryptos based on a number of yardsticks including the level of adoption, technology, investment risk, and market momentum.
In the latest rankings, Tezos (XTZ) occupies the number one spot in terms of technology, followed by Cardano (ADA), Cosmos (ATOM), Fantom (FTM), and Ethereum (ETH), while in the overall rankings, the world’s flagship crypto, bitcoin (BTC) tops the list, with Ethereum, IOTA (MIOTA). Ripple (XRP) and Litecoin (LTC), all trailing behind.
Ethereum to Rise Further
While it may surprise some observers that Ethereum failed to make it to the number one spot despite being the king of DeFi (decentralized finance), the rating agency has hinted that it expects Vitalik Buterin’s Ethereum to rise further in subsequent rankings.
“We have already upgraded Ethereum’s technology grade once, and further upgrades are very possible as #Ethereum 2.0 rolls out. This combined with its high adoption rating makes Ethereum very attractive indeed.”
Talking about ETH 2.0, BTCManager informed on April 16, 2020, that Prysmatic Labs, one of the top Ethereum development teams has rolled out the ETH 2.0 Topaz testnet. And on April 17, 2020, the ETH 2.0 genesis block was mined and validated.
Interestingly, while the price of Bitcoin (BTC) is still struggling to leave the $7k price region, Weiss Ratings has predicted that the economic aftermath of the COVID-19 outbreak, coupled with the increasing U.S debt and the upcoming Bitcoin halving event in later in May, will trigger a solid bull run for BTC.
“US debt is not only at its highest point in history. It’s rising faster than ever. And it’s being monetized. So while the world is orchestrating massive quantitative easing, Bitcoin is gearing up for its quantitative hardening.”
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