EOS Tops The Chart For The Latest Crypto Rankings Published By China
China’s Center for Information and Industry Development made public its 13th update of crypto project rankings on Tuesday. It evaluated thirty-seven projects overall, as well as in three different categories. The list saw the addition of two new projects since the last rankings that took place in May.
EOS Tops the ChartsCCID evaluated the projects based on their creativity, applicability, and fundamental technology. EOS blockchain remained at the top of the overall ranking, closely trailed by Ethereum and TRON. The crypto rankings for TRON began in February and made its debut to the list by securing the second spot. However, the latest rankings have seen TRON being dropped to third place, replaced by Ethereum. Bitcoin currently ranks 11th, up by one place from its May ranking. BCH has also registered an improvement and jumped to 26th place from its previous position of 29th.
Two Projects AddedTwo more public chains, Cosmos and Zilliqa, have been included in the list. Cosmos is an ecosystem of blockchains that can help blockchains scale and communicate with each other. Cosmos has made its debut by securing the tenth spot, just a place higher than Bitcoin. Zilliqa helps in transaction sharding to enhance transaction performance. It has debuted at the 24th place in the CCID rankings.
Evaluation ModelThe CCID said on Tuesday that the evaluation model remains the same as before. It said that the projects are being evaluated overall as well as on three other areas of creativity, applicability, and fundamental technology. The sub-index of creativity assesses the continuous innovations of the public chain. It accounts for 15% of the total index. Applicability, which evaluates the overall level of public chain support, accounts for 20% of the index. The fundamental technology examines the technical realization level of the public chain, thereby accounting for 65% of the total index.
How China Began Crypto RankingsThe first CCID ranking was published in May last year. A week before the crypto rankings were released, the center held a conference in Beijing on the assessment of public blockchain technology. The CCID had announced its initiative by citing the need for an independent analysis of crypto and blockchain. It had said that the lack of machinery to analyze the potential and functioning of crypto projects had motivated it to come with a list of its own. The CCID noted that the ranking list would serve as a guide for research institutes, enterprises, and governments globally.
Crypto-Friendly Signs Seen in ChinaCryptocurrencies have lately seen some positive developments in China. According to cryptocurrency news, the Hangzhou Internet Court has identified Bitcoin as a commodity, thereby determining the virtual property attribute of the digital asset. This is in addition to the publication of an infographic by the Bank of China on 26th July on Bitcoin. The Bitcoin infographic explained how the coin worked and why its prices were rising. The crypto community views these signs as bullish.
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Sandeep Kumar MishraSandeep is an avid cryptocurrency enthusiast and a keen & passionate blogger. He loves to keep track of the latest social media trends and other hot topics in the digital marketing space. Also, he has a knack for sharing crypto and blockchain-related updates with passionate readers like yourselves. You can follow him on LinkedIn and Twitter, too if you like his content.
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