Weiss Ratings: Ethereum and EOS are Better Than Tron

Reading Time: 2 minutes

Weiss, the cryptocurrency ratings agency, has replied to a provocative message from Tron head Justin Sun by stating in no uncertain terms that they don’t agree with his assessment of Tron’s capabilities. Sun offered last week to take on Ethereum and EOS developers if they brought their dApps with them, claiming, out of nowhere, that their platforms were on the verge of collapse.

Weiss responded Thursday by stating that, in fact, EOS and Ethereum developers had no reason to migrate to Tron seeing as they had perfectly good setups themselves:

Weiss’ backing for Ethereum and EOS shouldn’t be too much of a surprise given that in January they placed the pair joint top of the first Weiss Cryptocurrency Rankings. Weiss tweeted in May however that Tron and EOS both had the opportunity to become ‘Ethereum-killers’ but that only one would win. Given their response to Sun’s tweet it seems they have made their minds up on that front.

EOS Stumbling in the Race

According to some, Sun may have had a point regarding EOS. A tweet from Blocktower investment team member Corey Miller referenced a survey of EOS block producers, which found that the average break-even cost of creating EOS blocks is $4. With the coin currently trading around $1.75, this means that block producers are running at a loss, and with no real end of the bear market in sight, Miller suggested that block producers are “going to be forced to either downsize their operations/cut costs or, in some cases, completely shut down.” This would bring the EOS blockchain to a halt and potentially cause the project to, indeed, collapse.

Ethereum Not Such a Bad Choice After All

Ethereum recently announced that their long-awaited Constantinople upgrade should take place in January, allaying some fears that they might not be able to stay ahead of the competition. Casper, the Proof-of-Stake protocol that Ethereum has chosen to go with, is still some way off, and any delays or problems with implementing this could let other smart contract dApp platforms in. Given how poorly Tron executive Tom Mao answered a question on why developers should migrate from Ethereum to his platform however, it seems that Tron may not quite be the launchpad to the future of blockchain that Justin Sun feels it is.