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Cryptocurrency

Chinese Crypto Project Ranking Recognizes EOS and TRON as Top Rated Currencies

Center for Information and Industry Development (CCID) in China has released their eleventh update of crypto project ranking report on Friday. The Center under China’s Ministry of Industry and Information Technology ranked thirty-five cryptocurrency projects independently on the basis of the underlying technology, applicability, and creativity. EOS and TRON were rated the best among the lot in this update.

The projects were ranked according to three major indicators: basic technology, applicability, and creativity. The basic technology which accounts for 64% of the total index, mainly examines the technical realization level of the public chain, including function, performance, security, and decentralization according to the report. Top five projects in this criterion are EOS, Tron, Bitshares, Steem, and Gxchain. The center observed that the basic technology index has slightly decreased from the previous period.

The sub-index ‘applicability’ accounts for 20% of the total index, explained the CCID report. This category mainly evaluates “the comprehensive level of public chain support for practical applications.” Ethereum, NEO, Nebulas, Tron, and Ontology topped under this criterion. “The applicability index has increased from the previous period,” concluded the report.

The creativity sub-index accounts for 16% of the total index and focuses on continuous innovation in the public chain. Bitcoin, Ethereum, EOS, Litecoin, and Lisk were ranked the best in this sub-category. CCID explained that

“the average value of the innovation sub-index has declined to a certain extent compared with the previous period, indicating that the activity of global public-chain technology innovation is decreasing.”

Overall, EOS still occupied the top spots which it has been holding since the start of the ranking project since June 2018. TRON had debuted during the last update and had replaced Ethereum to gain the number 2 spot. Ethereum holds its third rank.

“The results show that the world’s three major Dapp platforms — EOS, Tron, [and] Ethereum — still rank in the top three, [and] the scores are 155.7, 146.7 and 142.8, respectively,” explained the center in their report.

Bitcoin, though, was ranked fifteenth, falling two places below from last month with a score of 99.4. Bitcoin Cash also dropped from 27th to 31st spot and had scored 82.1. Other cryptocurrency projects that made it to the top ten include Bitshares, Nebulas, Ontology, NULS, GX Chain, NEO, and Steem.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.
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