Weiss: Tezos Scaling Proposals “Unimpressive and Lackluster”

Reading Time: 2 minutes

Weiss, the crypto ratings agency, has called Tezos’ scaling plans “unimpressive and lackluster”, while at the same time upgrading Bitcoin to A- from B. The agency lauds the market performance of both tokens in its latest pack shuffle, but it doesn’t pull any punches when it comes to Tezos’ fundamentals, despite upgrading it to a B-.

Tezos’ Run Applauded by Weiss

Weiss discussed the subject of Tezos in a series of tweets on Friday after the token, XTZ, hit $2.19, a price not seen since July 2018. This represented a 64% move since the turn of the year, and, at the time, put it on the cusp of the top 10. Over the weekend the token saw another jump, landing it in the top 10 at the expense of ADA, with Weiss offering a brief explainer on the token’s success:

However, Weiss wasn’t completely sold on Tezos, explaining its one key drawback (in their eyes) – throughput:

They’re not wrong – in days where blockchain is supposedly knocking on the door of the likes of Visa in terms of transactions per second (the payment giant can process 65,000 transaction messages per second), only being able to process 50 sees them fall way short of what is required for anything like mainstream adoption.

Supporters rallied round the project, stating that updates were on the way that would take care of this issue:

Bitcoin Halving Gets Weiss Excited

Talking of Bitcoin, Weiss also upgraded the big orange to an A- rating from a B, a change it put down to “improving fundamentals and positive price action ahead of Bitcoin’s next halving.”

This upgrade represents a continued uptrend from Bitcoin in the rankings since they were first introduced in January 2018, when it ranked BTC as C+ while blogging site token STEEM controversially received a B-. Not only has BTC overtaken its less illustrious colleague, STEEM has been downgraded all the way to BTC’s original rating of C+. Many would argue it’s about time. Whether or not the ratings actually matter to anyone however is another discussion altogether.