The ranking of cryptocurrency projects by the Chinese government has been revised with two new crypto projects added. EOS tops the overall list of 30 crypto projects; Ethereum fell to second place while Bitcoin dropped to 17th place.
China’s Center for Information Industry Development (CCID), under the Ministry of Industry and Information Technology, has revised its crypto project rankings. The second monthly Global Public Chain Technology Evaluation Index was officially released on June 20 at the Shanghai Science Hall, consisting of 30 crypto projects.
The first index, introduced last month, has 28 projects, missing the two newly-added EOS and Nebulas.
According to the CCID Network, the center’s media network under the Ministry of Industry and Information Technology, the CCID Public Chain Technology Assessment Working Group has made some changes to the ranking structure of the index:
The second-phase assessment model has been optimized 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.
However, the basic model of technology assessment has not changed since the index was, the group explained. Evaluation criteria for the rankings are still focused on three aspects of the overall crypto projects: the basic level of technology displayed, the usefulness of the application, and the innovativeness of the project. There was no mention of typical factors used to rank cryptocurrencies such as liquidity, volume, adoption, or price.
EOS First, Bitcoin Dropped to 17th Place
EOS, which was not included on the original list, tops the second list overall. Ethereum, which ranked number one last month, has now been bumped to second place. Bitcoin has dropped from 13th place to 17th place. Bitcoin Cash fell slightly from 25th place to 28th place.
“The EOS main network went live on June 10. Although there was an accident such as a short-term suspension, it was highly active in technological innovation, and the software update speed was still one of the new generation public chains that are currently most concerned by the industry,” the CCID explained. “However, due to its short on-line time, the stability of the network remains to be observed.”
The center elaborated:
The results showed that the evaluation index of EOS…was 161.5, ranking first in the evaluation index list. Ethereum, the first player in the previous period, took the second place with a combined score of 138.4…Bitcoin’s public chain technology assessment index is 91.5, ranking 17th.
Two days after the Chinese index was released, the EOS Core Arbitration Forum issued its first censorship order, demanding its miners to refuse “to process transactions of any kind for the affected EOS account names and/or public keys, pending further review of the claims by an arbitrator.” 27 different wallet addresses are included in the order.
What do you think of China’s crypto project rankings? Let us know in the comments section below.
Images courtesy of Shutterstock, EOS, and CCID.
Need to calculate your bitcoin holdings? Check our tools section.