Weiss Crypto Ratings, the independent rating agency working analysing cryptocurrencies, informed that Cardano (ADA) is superior to EOS.
These comments come after Cardano launched the Shelley testnet and completed the first snapshot and balance check for the incentivized Shelley testnet.
Is Cardano Better Than EOS?
According to Weiss Crypto Ratings, Cardano is ‘vastly superior’ to EOS. Both of these cryptocurrencies have been operating in the market for over a year and have been traded among the top 10 in different occasions.
In a recent series of Tweets, the rating agency informed that although EOS was released first to the market, it is becoming clear that Cardano is superior.
#Cardano is clearly superior to #EOS. EOS was first to market, but it’s becoming increasingly clear that of the two, Cardano is vastly superior. More details on this in subsequent tweets. #ADA #crypto #cryptocurrency
— Weiss Crypto Ratings (@WeissCrypto) November 13, 2019
The main reason they give is related to the completion of the 1st snapshot performed by Cardano for its Shelley testnet that is going to be incentivized very soon. This is one of the latest steps towards staking, which would allow investors to earn rewards for the work they do on the network.
Nor Cardano neither EOS are proof of work (PoW) cryptocurrencies. Both of them have incentivized networks that work in different ways. However, the Cardano network is expected to go live in the coming weeks, compared to EOS that has already been released.
Weiss Crypto Ratings wrote about Cardano:
“Cardano completed the 1st snapshot and balance check for its incentivized Shelley testnet. This latest step toward staking will allow investors to earn rewards on their ADA for the 1st time. Don’t forget to move your ADA to Daedalus wallet if you want to participate.”
At the time of writing this article, EOS is the 8th largest cryptocurrency in the market with a valuation of $3.2 billion and a price per coin of $3.41. Meanwhile, Cardano is the 14th largest with a price of $0.0424 and a market capitalization of $1.1 billion.
Cardano is considered to be a third-generation blockchain that aims at solving the problems that cryptocurrencies and blockchain networks such as Ethereum (ETH) were facing.
At the same time, the team behind Cardano is working on a consensus called Ouroboros that has never been operative in another blockchain network.
UseTheBitcoin informed that Charles Hoskinson said they are working on the testnet network, solving bugs and improving the whole system. At the same time, they want to also make the testnet as stable as possible.