A new crowd-sourced ratings system managed by Rency – which adjudicates on cryptocurrencies across ten different categories – has ranked Stellar as the top crypto, making it the only one to receive an A rating from the forty-two cryptocurrencies currently on the agency’s books.
The agency, a new Californian start up which assesses cryptos on a scale ranging from A (“Excellent”) to E (“Poor”), using a combination of criteria that incorporates speed, transactions fees, team, network, community, governance and adoption, sources its ratings through a combination of input from external contributors and in-house “blockchain industry veterans, computer scientists and cryptographers” to arrive at its overall rating for a given currency.
Bitcoin Not in Top Ten
Steem and NEO currently occupy second and third places respectively in the current classification which is updated in real-time as new information comes in.
Other cryptocurrencies sitting in the Rency top ten include Ripple, Ark and Cardano. Perhaps controversially for some, Bitcoin currently occupies 22nd place only – likely due to its relatively high fees and comparatively slower transactions times. Ethereum currently sits in 18th position.
The team behind the project point out that they do not apply any weightings to the scores associated with each category, stating that they prefer to leave it up to the consumers of the data themselves to allocate their own weighting factors as the basis for their own rankings sytems.