China has been quite receptive to cryptocurrencies and unlike many countries, it has provided endorsements for several currencies. The country released in May 2018 a second list of state-endorsed currencies. The first time around, currencies such as Ethereum, Steem, and List received the best ratings.
There are various factors that China considers in rating currencies. For instance, it looks at technology, application, and innovation. Further, the ratings are released by the Chinese Center for Information Industry Development, which is under China’s culture ministry. The center’s most recent May list included 15 currencies, such as:
- Ethereum Classic
The center also stated that in generating the list, it has utilized the expertise of “first-rate domestic experts and scholars.” The experts have evaluated the usefulness of the application, its technological capabilities, and how well the platform’s projects are developed. Interestingly enough, Bitcoin was ranked just 17th out of 30. And in the first list, Komodo ranked 5th, but is now 16th. The variation in rankings show that the center continuously analyzes a platform’s performance over time and not just once.
As the list shows, EOS has received one of the top rankings, which does seem quite interesting considering that the platform has received a great deal of scrutiny. Further, on June 17th, the Eos mainnet was halted due to a bug. Moreover, investors and analysts have criticized the platform from its start.
The good news is that the platform’s employees are confident that they can resolve potential bugs, but the issue is overcoming the skepticism shown by investors who would like to see the platform do more to repair its issues. For now, who knows which platforms will be on the center’s next list.