EOS Leads the Cryptocurrency Ranking as per the Chinese Government

Karan Balwani

August 21, 2018 11:23 am

Crypto News

EOS Leads the Cryptocurrency Ranking as per the Chinese Government
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The Chinese Center for Information Industry (CCID) has ranked EOS as the number one cryptocurrency second month in a row. This list considers 21 currencies and ranks them based on various parameters and overall performance. 

Bitcoin’s ranking has improved from the past month, the currency jumped it’s ranking from 17 to 16. Though Bitcoin was ranked 13 in May by the CCID. Bitcoin Cash also jumped 3 places and landed at 25th position. NEM has once again graced the bottom of the list.

The ranking system was started by CCID in May 2018. Initially, there was a list of 28 projects with Nebulas and EOS being added in June. The organization also added GxChain in August and placed it at 4th position. This makes the total count to 31.

The China Electronics News Agency (CENA) commented that CCID’s ranking is calculated by performing a comprehensive investigation and evaluation of the public chain. This analysis is carried out in 3 aspects:

  1. Basic underlying technology
  2. Application
  3. Innovation

CENA serves as a media agency for the Ministry of Industry and Information Technology. The application criteria also considers the capabilities of the platform when it comes to app development support and deployment of nodes. Notably, Ethereum was the top pick in this criteria and topped the overall list in May.

In terms of innovation, Bitcoin leads the pack. This criteria also inspects the number of contributors, the impact of the code and code updates.

Not everyone was content with the provided ratings. Eric Zhao, who backs @cnLedger account on Twitter spoke out against the rating by saying that the task to rate these projects was assigned to people who do not have an understanding of blockchain technology.

 However, Zhao also said that government officials are finally coming on board with cryptocurrency projects after treating them as a threat to the power and authority of the banks as well as governments.

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