Recently, Chinese Government announced a list ranking cryptocurrencies on the basis of technology and enhancement. This ranking are proven not to follow up any price or market holdings, but giving from 3 criteria. This is yet the 2nd list release after the first which was listed last month.
The list has been released by the CCID- China Center for Information Industry Development, which is under the Ministry of industry and informative Technology.
The rating was done by 3 criteria: a basic level of technology, ease of usability and how innovative the project is.
EOS ranked 1st, Bitcoin Dropped to 17th in Chinese Crypto List
While EOS ranked 1st, followed by Ethereum, which was at 1st last month.
Interestingly, Bitcoin the well know the father of cryptocurrency hasn’t even made in top 10 of the list.
Last month bitcoin was on 13th rank, this month dropped to 17th despite recovering the price upto 4.7%. Neo was interestingly slips up to 3rd place still after loosing over 65% of its price over the one month. Obviously, proven that list have nothing to do with the price and market-cap.
But Why the list?
Interestingly, as we already know Chinese government is not interested in indulging in crypto, as they banned it last year. Still, CCID released this list, mark a question of doubt that China might be planning something for the future of crypto and will come up with some surprise very soon.
Why is Bitcoin ranked 17th?
The main intention of the bitcoin when it was released is to make the money transactions transparent. Definitely, it defines the boundary of the crypto where the exciting coins are living. But from the technological point of view and expansion of the coin and platform, Bitcoin still lack a bucket.
This list made us through the fact that bitcoin is not the only legit crypto exciting, just because it has a max hold of the crypto; the largest cryptomarketcap. But there are other aspects too, which has to be counted to make the crypto the real crypto, otherwise its just a fictional story.
The CCID Public Chain Technology Assessment Working Group also altered its assessment structure for the second round of rankings, mentioning:
“The second-phase assessment model has been optimised compared to the first phase. The security assessment algorithm has been improved and the evaluation indicator for ease of deployment of public-chain nodes has been added.”