Tezos and Cardano streets ahead of Bitcoin, says Weiss Ratings

Cardano (ADA) and Tezos (XTZ) have just been marked as the top blockchain technology platforms by Weiss Crypto Ratings.

Cardano and Tezos are top of the list in terms of technology and have been graded as "excellent" by the cryptocurrency and stock rating firm. Just two other cryptocurrencies are also rated excellent for technology—Cosmos (ATOM) and Factom (FCT), meanwhile Bitcoin (BTC) is simply rated as "fair".

However, despite being listed as excellent technology-wise, both Cardano and Tezos don't fare so well based on other metrics, scoring a D- and D+ respectively for risk and reward, whereas Cardano has an overall rating of B-, compared to Tezos' C+. Bitcoin and Ethereum have the highest overall rating of the 123 cryptocurrencies measured by the platform, having both achieved an A-grade for adoption.

Notably, Cardano, Tezos, and Cosmos all use Proof of Stake (POS) or a variant of POS as their consensus algorithm. This is widely considered to be more efficient than the energy-intensive Proof of Work (PoW) algorithm used by Bitcoin and Litecoin (LTC), since it completely eliminates the need for cryptocurrency mining hardware.

Tezos and Cardano post double-digit gains

Both Cardano and Tezos are also leading the market in 24-hour growth among large-cap coins today. Cardano is up 14.06% in the last day, with ADA climbing to $0.043 as the cryptocurrency adds almost $150 million to its market capitalization overnight to become the 13th largest cryptocurrency by market cap.

Tezos isn't far behind after gaining 12.38% to reach $2.67, further solidifying its place as the tenth-largest cryptocurrency as its market cap swells to $2.17 billion.