EOS is ‘Like a Feudal Kingdom with Indentured Servants,’ Says Weiss Scores

EOS is ‘Like a Feudal Kingdom with Indentured Servants,’ Says Weiss Ratings

Weiss Scores claims EOS, the fifth largest cryptocurrency by market capitalization, warrants a “prime ranking.” Nevertheless, analysts additionally declare that the much-hyped Ethereum rival has a reasonably critical centralization downside — one which can warrant downgraded rankings sooner or later.

‘The Actuality of What EOS is At the moment’

Whereas the world waits for EOS to formally launch, standard cryptocurrency graders Weiss Scores has proven its shiny mild on one of many much-hyped cryptocurrency’s greatest flaws. Writes Juan M. Villaverde for Weiss:

The EOS dream is not going to come true till it fixes its centralization issues, which got here into sharper focus with its launch this week.

EOS’ success, by Weiss’ estimations, hinges on this single “pivotal issue.”

As defined by Villaverde, decentralized cryptocurrency initiatives have “good breadth” once they share energy and affect over a big group of individuals. Conversely, centralized initiatives do exactly the other — which frequently contradicts the initiatives’ premises.

Proper now, it seems EOS falls into the latter class. As famous by Weiss:

What’s ironic is that Block.one’s motto has at all times been “Decentralize All the pieces.” And certainly, EOS founder Dan Larimer is usually quoted as saying that his important aim in life is to create “free market methods to safe life, liberty and property.

Sadly, nevertheless, Block.one’s motto and Larimer’s aim are in sharp distinction to the truth of what EOS is at present.

‘Like a Feudal Kingdom with Indentured Servants’

Weiss isn’t merely making an attempt to capitalize by FUDing one of many cryptocurrency market’s scorching gamers, both. Based on the company’s metrics, EOS is “some of the centralized distributed ledgers on this planet at present.” Explains Weiss:

The Gini coefficient, utilized by economists to measure wealth distribution of nations, when utilized to EOS, comes up at 97 (on a scale of zero to 100). Even for those who acknowledge that crypto communities and international locations are two completely different animals, the actual fact stays that any Gini coefficient above 60 is problematic.

EOS’ coefficient, at 97, is off the charts. Like a feudal kingdom with indentured servants.

That comparability is definitely fairly apt.

Daily Deals