China has released the third round of its public blockchain rankings. EOS, the world’s fifth largest cryptocurrency by market cap, is once again the king of the list, taking the top position. Bitcoin, meanwhile, the world’s largest cryptocurrency by market cap, isn’t even in the top 15.
The rankings were published earlier today by the Chinese government-backed China Electronic Information Industry Development (CCID). The goal of the periodic report is to evaluate public blockchain networks based on three metrics, including technology, applicability, and innovation. Based on these three characteristics, public blockchain networks receive an overall index score.
EOS scored below its peers on applicability, but soared with strong technology and innovation rankings. As reported by CCN.com, EOS scored a total of 145.6, putting it at the top of the list.
Here’s the full list of the top 10 cryptocurrencies according to the Chinese government report as well as their index ratings:
- EOS: 145.6
- Ethereum: 137.3
- Nebulas: 108.8
- GXChain: 108.3
- NEO: 107.4
- Stellar: 107.0
- Steem: 104.9
- Lisk: 103.3
- Waves: 101.1
- Komodo: 101.1
You’ll notice some obvious trends with this report. One of the most notable trends is that the CCID particularly likes delegated proof of stake (DpoS) consensus algorithms. EOS uses a DPoS model to prioritize scaling and speed at the expense of some level of decentralization. With EOS, 21 Block Producers are chosen to stabilize the network, leading to increased centralization but boosted efficiency across the network.
Ethereum is one of the few on the list that uses proof of work (PoW), although Ethereum has a roadmap showing how it could transition to a more energy-efficient proof of stake (PoS) system in the future.
Bitcoin, meanwhile, was outside of the top 15, taking 16th place in the list. That may sound bad – but it’s a one spot improvement over the previous ranking, which had bitcoin at 17th. Bitcoin’s poor ranking has long been a source of controversy for the CCID report, as the community’s best blockchain developers are all widely agreed to be working on bitcoin. Of particular controversy is bitcoin’s technology score: the network scores 44.3 for technology, the worst of any blockchain network evaluated by the CCID.
The rankings will also continue to be positive news for Dan Larimer, who currently serves as CTO of blockchain startup Block.one. Three of Larimer’s former or current projects, including EOS, Steem, and BitShares, were ranked in the top 11 on the CCID report.
In any case, this is the second time in three reports that EOS has topped the list of the CCID rankings. In the previous rankings, EOS scored 161.5. After a turbulent launch and some controversy in the community, EOS’s index rating fell slightly, although it’s still in clear first place. Ethereum’s rating, meanwhile, held steady at around 137.
You can view the full blockchain company rankings from the state-backed China Electronic Information Industry Development team on the website.