Weiss Ratings warned: Don't get into 4 crypto cash | Bitcoin,Crypto and Blockchain news and dictionary

Weiss Ratings warned: Don’t get into 4 crypto cash

Weiss Ratings warned: Don’t get into 4 crypto cash

The rating company, Weiss Ratings, has listed four crypto currencies that should not be purchased for specific reasons in a recent report.

The rating company, Weiss Ratings, recently issued a report reported that investors should keep away from the crypto coins. The company, which examined 111 different crypto coins, advised not to be involved in the Aurora Chain, Bitcoin Diamond, Credits and Mixin between these crypto coins.

The company explained the reasons for this recommendation one by one:

Aurora Chain (AOA)

Weiss Ratings says they have identified a number of red flags in the AOA where they give their D- grade. As the first red flag, the company says that the consensus algorithm is not a unique combination of Delegated PoS and Byzantine Faul Tolerance, as AOA claims.

The second red flag points out that some of the whitepaper’s crypto money is from Wikileaks.

According to Weiss Ratings, another concern is the lack of knowledge of who the programmers and developers are.

In addition, the absence of visible computer code and adaptation metrics is only listed on a global stock exchange, so the weak volume is indicated by other red flags.

Bitcoin Diamond (BCD)

A Bitcoin clone from the last days of 2017, it is noted that the developers of Bitcoin Diamond with the D note have made minor changes to Bitcoin by downloading the open source code; . . They sold themselves a generous piece of new crypto money and sold them in exchange for Bitcoin, par he says.

In addition, there is almost no improvement in the code is expressed. In addition, there is a small community of users, developer support is almost absent and there are very few transactions in the network.

Credits (CS)

In terms of credits, developers note that they are able to make millions of transactions per second, but their evidence consists of tests conducted in a highly controlled environment with few machines. It is stated that this test environment is far from an accurate representation of the real world.

According to Weiss Ratings, the most serious mistake with Credits is using the MD5 hash algorithm. MD5 is vulnerable to security breaches. In fact, this is supported by a warning by the US Department of Homeland Security that the MD5 algorithm should be avoided in 2008.

Finally, Credits claims that a groundbreaking new consensus algorithm is used, but it uses the same or very similar algorithm as other third-generation crypto platforms.

Mixin (XIN)

This is the lowest note of the four crypto money mixed with E-.

LinkedIn profiles of developers of Mixin are said to be false.

Mixin’s network, which starts with a centralized stock market target, is not working.

Furthermore, the technical document of Mixin states that there are no technical details on how to build the  Swiss knife of the krypton  which has never been seen before.

In addition to a non-functional application, there is no programming code to analyze, and the only one remaining is XIN, one of the thousands of tokens in the Ethereum network.

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    Austcoge

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