China Updates Crypto Ranking, EOS Still on Top, BTC Downgraded Again
China has updated its government-sponsored rankings of major cryptocurrencies this month, downgrading Bitcoin to 18th spot from the 13th place in the previous month, while EOS and Ethereum are still favored, maintaining the top spots.
For the eighth month in a row, the China’s Center for Information and Industry Development (CCID), a research unit under the country’s Ministry of Industry and Information Technology, has released a ranking of 30 odd cryptos called Global Public Blockchain Assessment Index. According to CCID, the impetus for the Index’s creation is “a lack of completely independent rating” for crypto assets and blockchain projects.
EOS seems to have won the heart of Chinese crypto enthusiasts as well as rating experts, as it has maintained the first place in the ranking for months since June; Ethereum retains the second spot, and the third place goes to a local project GXChain.
This month’s ranking saw the grading tilt to domestic public blockchain, as half of the top 10 are Chinese projects – GXChain, Ontology, NULS, Nebulas and NEO. Among them, GXChain jumped from the 8th place to the 3rd place; the newly-added project Ontology made into the 4th spot the first time it was included, and NULS climbed 14 positions to 6th from the 20th place in the previous month.
Nevertheless, bitcoin still failed to make into the top 10. It was downgraded from the 13th place to the 18th place, falling 5 places this month. With regard to bitcoin’s consistent low ranking, the index has been contentious since its creation this May.
The list of 34 crypto projects were evaluated based on three key indicators – basic technology, applicability and innovation. In the innovation category, Bitcoin tops the list; EOS takes the first spot in the basic technology category, and Ethereum ranks first in the applicability category.
- Top 5: EOS, Ethereum, GXChain, Komodo, Ontology
- Top 5 By Technology: EOS, Bitshares, Steem, GXChain, Ontology
- Top 5 By Applicability: Ethereum, NEO, Ontology, Nebulas, Qtum
- Top 5 By Innovation: Bitcoin, EOS, Ethereum, Komodo, Cardano
“Public blockchains with high performance and support for general application development are generally ranked high,” the CCID wrote in accompanying comments, “Among the top 10, four public chains adopting graphene architecture have better performance, six public chains use the dPOS consensus mechanism, and seven support Dapp development.”