Latest March Rankings Show It’s Thumbs Up for Tron, EOS from China as Bitcoin Gets a Blow, Again
The association between cryptocurrencies and China usually is a negative one. Several occasions they have come clean that they are distrustful of the cryptocurrencies and preferred focus on blockchain technology.
Nevertheless, the Center for Information and Industry Development (CCID) which is under the Chinese Ministry of Industry and Information Technology has in several occasions rated the cryptos. During the latest ranking, Tron and EOS are the ones with the last laugh as Bitcoin receives another blow.
The Ranking – A Boost for Ethereum Rivals
Does the ranking imply a boost for Tron and EOS? According to CCID's latest crypto project ranking, at the top of the list is EOS and Tron with Ethereum resting in third place. The release is the 11th update from CCID which similar to the previous release evaluated a total of 35 crypto projects.
According to the center, the three Dapp platforms ranked highly scoring 155.7, 146.7 and 142.8 respectively. Even though Tron debuted merely a month ago, it replaced Ethereum to the second spot with EOS enjoying the bragging rights at the top of the table for almost a year now.
If the ranking holds any weight-which it definitely does, then both Tron and EOS are in for an untapped market which could highly boost the prices.
But where is Our Bitcoin?
For many, Bitcoin may be the only relevant as well as a useful cryptocurrency, but for China, it's evident that they profoundly disagree. On the previous ranking, bitcoin was on the 13th position, but the giant crypto has now slipped further two places.
The latest release implies that bitcoin has been downgraded all evaluated based on 3 sub-categories which include applicability, basic technology, and creativity. Similarly, Bitcoin Cash (BCH) was on a similar trend to Bitcoin whereby it fell to the 31st spot from the 27th spot it held previously.
The Ranking Criteria
All the cryptos were evaluated based on basic technology, creativity, and applicability. According to the center, basic technology takes 64% of the total index, and it mainly examines the technical realization level of the public chain that includes security, performance, function, and decentralization.
On that category, EOS, Tron, Bitshares, Steem, and Gxchain took the top spots respectively. However, on average, compared to the previous ranking, the basic technology index had decreased.
Applicability accounts for 20% and mainly evaluates “the comprehensive level of public chain support for practical applications.”
Ethereum, NEO, Nebulas, Tron, and Ontology were the top projects on that category which is said to have increased from the previous release.
Creativity, on the other hand, accounts for 16% and evaluates on continuous innovation. It's the category that Bitcoin took the show as the top projects were Bitcoin, Ethereum, EOS, Litecoin, and Lisk.
The value of innovation declined compared with the last release meaning the activity of the world public-chain technology innovation is going down.
The ranking by China may be a new wave of blockchain applications as we see bitcoin not even on the top ten and new projects taking the top spots. Either way, OES and Tron are the big fish in China at the moment probably will seal those top two spots, who knows?