EOS Continues Dominating Chinese Cryptocurrency Ranking
The information industry development center in China (CCID), is a research team operating under the MoIIT and has published its third report of blockchain rankings in China and EOS is still holding strong at the top. The first report was published in May and followed by a June publication for the second. The research is dedicated to studying the usability of each blockchain and contributes in no way to value fluctuations of each coin. Rankings are provided based on three categories, tech, application and creative innovation.
A few changes have been made since the June report. As of now, 31 coins in total are available and GSX is the latest to join. GXChain’s coin ranked fourth on the new report and stands with EOS, ETH, and NAS. A few hours are the announcement that GSX was available and followed each of the leading crypto’s played a factor in its 10 percent increase in trading price.
The following coins to the top four have moved up and down but no incredible changes occurred. IOTA’s coin is now 14th on the ranking, climbing five spots from its previous 19. Bitcoin, the leading cryptocurrency in the world only bounced up once to 16th on the rating.
Experts have questioned how the CCID ranks the cryptocurrencies. CENA, also operating under the ministry explained each of the different categories. In light of the first category, technology, the report explains that it reviews the operational and technical levels of the chain and its functionality, performance, protection, and decentralization. EOS also ranked at the top in this category.
Applicability is the second category and assesses a blockchains ability to back utility apps, including nodes, digital wallets, the development and introduction of applications. As for the third category, Bitcoin reigns king with creativity and innovation. The category is determined by the effect of contributors and codes.
In regards to the fact that China does rank these cryptos and blockchains, it provides a small glimpse into the possible removal of a few regulations that China has severely imposed on the nation and presents an impartial position with analysis.