Weiss Ratings thinks three crypto assets are operating on better technology than Bitcoin.
The financial ratings agency tells its subscribers in a recent video that both Fantom (FTM) and Cardano (ADA) are currently scoring higher tech marks than BTC. The third crypto asset has not yet been publicly revealed.
Juan Villaverde, the architect of the Weiss Cryptocurrency Ratings tells Decrypt,
“Our position is that there are several distributed ledgers that have more advanced technology than Bitcoin’s. However, that may not necessarily make them better than Bitcoin overall.”
Fantom is a DAG-based smart contract platform that addresses the issue of scalability and the requirements for confirmation time on the blockchain. Villaverde says FTM is “pioneering a novel way to reach consensus in a distributed network.”
In its asset review, the ratings agency mentions that unlike Bitcoin, Fantom has both finality in transactions and the ability to perform multiple simultaneous transactions.
“On Fantom, multiple new transactions can be written simultaneously by multiple validators. This gives it the potential for formidable processing speed.”
Cardano is a fully open-source smart contract platform. Says Villaverde,
“Cardano has always impressed us with the high quality of all the elements that contribute to a robust Proof-of-Stake blockchain-based ledger.”
The Weiss review reportedly notes Cardano’s comprehensive, transparent approach to development, with peer-reviewed conference papers, detailed videos on new features and upfront disclosures of issues.
Weiss, however, also takes investment risk/reward potential and adoption into account in its overall coin reviews. Fantom has an overall “C” rating due to low adoption and risk/reward scores. Cardano’s adoption is ranked as “good” but only has an overall “C+” rating due to bad risk/reward marks. Bitcoin has an overall “B” rating.
PBoC’s Ex President Says Coronavirus Could Boost the Issuance of Digital Currency
The government has distributed 600 billion yuan and quarantined some old paper notes in Huobi for the prevention of coronavirus spreading through physical cash notes.
The former president of the People’s Bank of China said that the efforts for fighting with novel coronavirus could push China’s central bank’s plan to issue a digital currency to avoid the spread of the virus through traditional money notes.
In an interview with China Daily, on February 16, Lihui Li argued that the bank’s plan had been made especially desirable as a digital currency is efficient, cost-effective, and convenient. Previously, Li directed the People’s Bank of China and now deliver his services as the blockchain lead for the state-operated National Internet Finance Association.
For the prevention of the spread of the coronavirus through physical cash notes, the government has distributed about 600 billion Yuan that is approximately $85.9 billion and quarantined some old paper notes in Huobi, where the outbreak of virus took place initially. Meanwhile, millions of people are unable to make any payment as they are restricted to their homes following a government order.
Moreover, Dong Yang, a professor at the Renmin University of China who works on blockchain and fintech research said that as an alternative to money, other digital currencies and other forms of digital payment as offered by Alipay and WeChat Pay have become popular.
According to Dong, the overall implication of the epidemic virus will further boost the development of CBDC.
“This is because the frequency of direct contact between people has been significantly reduced, and cash has been withdrawn as a medium for transactions,” Dong said.
However, Li also added that the adoption of any digital currency by the central bank is still dependent on the demand from China’s retail market, Alipay and WeChat Pay currently rule that.
“China’s modern and emerging electronic payment platform is very mature, and WeChat Pay and Alipay online payment platforms have ranked first and second in the world,” Li expressed.
The professor also believes that, for a short period, individuals will be more interested in digital currency transactions, and this trend will help build user affection. Digital currencies will take advantage of this by accelerating their adoption.
John McAfee Praises Privacy Crypto, Reveals the Secret of Technical Progress
Bears Continue To Gain Momentum In Bitcoin – Are We About To Collapse?
The antivirus guru and a prominent crypto bull John McAfee has not been tweeting about cryptocurrencies for a while busy talking to his followers about the permanent faults of the US government and the taxation system.
However, a few hours ago, he resumed his perpetual discussion of virtues that cryptocurrencies – privacy coins in particular – have.
‘Criminals are using privacy coins. Thank God!’
In a recent tweet, John McAfee praises privacy coins or rather he praises criminals for being the first to adopt all valuable technical novelties – automobiles, the telephone and now they are welcoming privacy coin
“Authorities are always behind. Now, they [criminals] have validated the power of privacy. Thank God!”
TradeStation Crypto Gets Approval for US Expansion
Crypto brokerage firm, TradeStation Crypto now covers more states in the United States.
TradeStation Crypto, a cryptocurrency brokerage firm announced the expansion of its services to two new states in the United States.
According to reports, TradeStation Crypto expansion to South Dakota, and Alaska increases the grand total to nineteen different states within the United States.
Therefore, the residents of South Dakota and Alaska now get the opportunity to apply for an account to trade cryptocurrencies.
Quoting the official post: “TradeStation Crypto, a subsidiary of TradeStation Group, Inc., is pleased to announce that residents of South Dakota and Alaska may now apply for a TradeStation Crypto account to trade cryptocurrencies.”
Besides, cryptocurrencies like traders in Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH). As well as, Litecoin (LTC), and XRP becomes available for interested traders. Also, the brokerage firm revealed plans to add more cryptocurrencies to the platform in the future.
James Putra, Director of Product Strategy at TradeStation Crypto commented on the development.
He said: “We’re excited that traders in South Dakota, Alaska and our long list of other states now get another way to participate in the cryptocurrency markets through a trusted and familiar brand.”
Notably, the platform claims they’re the first crypto offering that uses an online brokerage model that self-directed traders expect for other asset classes. Instead of being a crypto exchange, the platform reportedly aggregates multiple pools of liquidity in a consolidated market data feed combined with an intelligent order-routing system. Therefore, giving customers better visibility and trade execution.
Further emphasizing their progress, James Putra said: “Last month we announced our crypto offering availability for traders across Illinois. As well as, Rhode Island, Washington, and Wisconsin.”
About TradeStation Crypto
The platform is a subsidiary of TradeStation Group, Inc. commenced operations last year. According to reports, the US-based firm offers cryptocurrency brokerage services for self-directed online traders.
Last month, TradeStation Crypto announced its expansion to four new US states. They include Washington, Rhode Island, Wisconsin, and Illinois.