China is one of the major countries warming up to cryptocurrencies. As it happens, the country is having a second round of government-backed cryptocurrency ratings a blockchain project called the “Global Public Chain Technology Evaluation Index”. It will be used to monitor and analyze all the cryptocurrencies used by the country.
The entire breakdown of the second evaluation was announced at the Shanghai Science Hall last June 20. The data was published by the China Center for Information Industry Development (CCID) under the Ministry of Industry and Information Technology–a department that people call as “first-rate experts and scholars”.
The Index will serve as an independent analysis that evaluates global blockchain projects based on the digital coins’ technological capability, usefulness, and innovation. It was first introduced in May to help the Chinese government in assessing cryptocurrency and blockchain projects. Hopefully and in the near future, the next monthly index will restore the government’s confidence in blockchain and will serve as a guide for the country’s technological vanguard.
EOS ranked first in the evaluation list, with Ethereum ranked second, Bitcoin on the 17th, and Bitcoin Cash on the 28th spot. Despite EOS’ network facing technical issues and criticism for freezing some accounts, China still judged the digital coin in terms of technological innovation and the actual function of the blockchain. The high ranking, in actuality, is due to the fact that it has “outstanding technical advantages in transaction confirmation efficiency, network throughput, and transaction costs”.
The full breakdown of the evaluation can be found below:
|Total Ranking||Index Name||Sub-Index||Total Index|
|5||Application Chain (Lisk)||66.7||20.8||18.1||105.6|
|9||Ripple Chain (Ripple)||77.1||9.4||16.4||102.9|
|10||Quantum Chain (Qtum)||59.9||24.1||16.3||100.3|
|15||Ether Classic (Ethereum Class)||69.6||12.9||12.3||94.8|
|25||Cloud Storage Chain (Sia)||52.5||12.5||13.6||78.6|
|26||Super Cash (Hcash)||67.1||9.9||0.8||77.8|
|28||Bitcoin Cash (BCH)||42.0||16.1||10.5||68.6|
|30||New Chain (NEM)||40.1||18.6||1.8||60.6|