Weiss: Bitcoin Maintains Leadership; IOTA Replaces XRP for 3rd Rank

Weiss: Bitcoin Maintains Leadership; IOTA Replaces XRP for 3rd Rank

The rating agency Weiss Ratings has updated its rankings, with the Bitcoin (BTC), the biggest cryptocurrency by market cap, maintaining its leadership. It was followed by Ethereum (ETH), and then IOTA, Crypto News Flash website reported.

With a “B” rating, IOTA came after BTC and ETH as both got a “B+.” The ranking in the “technology and adaptation” grade is positive for IOTA with a “B+”. However, Ripple (XRP) and IOTA only received a “D-” rating for “market performance”.

Tezos, Cardano leading in technology category

Tezos and Cardano are still taking the leadership in the technology category, followed by Cosmos, Fantom and Ethereum. However, IOTA is not among the top five cryptocurrencies.

IOTA flew under the Weiss’ radar for a long time. This changed in early April 2019 after the agency contacted the foundation, and thus Weiss reversed its appraisal entirely and released a statement equating IOTA team’s commitment and work to Cardano.

Shout out to the #IOTA foundation and a big thanks for the wonderful discussion yesterday. IOTA is one of those projects anyone serious about crypto cannot afford to ignore!

In our view, #IOTA is up there with #ADA in terms of the quality of the dev team and commitment to their vision. IOTA is much more ambitious which may be detrimental to their success. Cardano is more pragmatic in working with existing blockchain-based systems.

IOTA: Important updates for Bee, Chrysalis

IOTA Foundation has made remarkable updates on the Bee, IRI, Chrysalis and the Trinity wallet project.

Changing the roadmap a little, the foundation has stressed some features such as smart contracts which will be launched soon because such features see high demand.

Chrysalis, Bee, Triniy receive significant updates

Developers indicated that they collaborated with the Hornet team to finalize the specifications for the first changes in chrysalis. The most significant improvements are the random tip selection (protocol RFC #8) and white flag (protocol RFC # 5). They also include the signature scheme ed25519 (protocol RFC # 9).

Moreover, developers are already testing the autopeering in the Hornet node software. Thus, the autopeering will be deployed in the next Hornet version. The team is completing the final work on the first Bee prototype. Bee has already showed successful performance in first internal testing. 

IOTA has launched the IRI 1.8.5 last month, to remove major changes in the bundle validity rules. Version 1.8.6 will receive further updates, and thus will be introduced the next week.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.