Cardano Offers ‘A Fresh Perspective’ to Crypto, How Will It Influence DeFi: Weiss Ratings

2020-2-17 18:32

Crypto ranking firm, Weiss speaks praise of Cardano (ADA), the 11th largest cryptocurrency, for its decentralized nature as the blockchain looks forward to bring “groundbreaking” changes to crypto and decentralized finance (DeFi).

Cardano has been thrust to the limelight yet again after Weiss Ratings, an analytical giant in the crypto space, came out praising them saying the blockchain offers a “fresh new perspective”. Cardano is a decentralized public Blockchain and cryptocurrency project and is fully open source.

According to Weiss Crypto ratings official twitter they convinced that Cardano would bring a new approach to crypto with a lot to offer in Decentralized Finance (DeFi). They however emphasized on the importance of backing up new technologies with plenty of research.

#Cardano has a way of bringing a fresh new perspective to crypto, and there's often a ton of research behind that perspective. We're looking forward to seeing what contribution it can make to #DeFi which, in our view, is the most exciting thing going on in crypto right now.$ADA

— Weiss Crypto Ratings (@WeissCrypto) February 13, 2020

Cardano’s Stable Coin

In recent times there has been talks that Cardano was on course to developing their own stablecoin that was termed as the ‘best version of DAI’. Weiss Ratings was quick again to praise Cardano Founder, Charles Hoskinson explaining that due to the decentralized nature of DAI it has a big edge over other coins such as the USDT or the USDC. They also pointed out that the DAI like token would bring about a new DeFi ecosystem that relied on the ADA as source of collateral.

A DAI-like token on #Cardano would bring tremendous value to the #ADA token – it would give birth to an entire #DeFi ecosystem that would rely mainly on it as a source of collateral. DeFi brought tons of utility to #ETH, it can do the same for ADA.$ETH $ADA

— Weiss Crypto Ratings (@WeissCrypto) February 13, 2020

Weiss Downgrade EOS ratings

Notably Weiss Ratings has previously revised ratings on the EOS project reducing their grade from B to a mere C-. according to the ratings agency EOS face major hurdles with decentralization and once again seem to favor the Cardano’s ADA token poised to take EOS place.

“EOS DOWNGRADE: #EOS has serious problems with centralization, and their event last week did anything to alleviate that, so we’ve severely downgraded its technology score. It’s now up to #ADA to launch a truly decentralized #PoS #Blockchain. No pressure. #crypto #Cardano #BTC.”

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