CHINA ISSUED CRYPTOCURRENCY RATING INDEX: ETHEREUM FIRST
On May 17, the first monthly cryptocurrency rating index that evaluates 28 virtual currencies and Blockchains was launched by the CCID. The index has been developed based on three criteria: technology, application, and innovation.
Ethereum scores were very high in all three categories: 80.3 in technology, 23.7 in applicability and 25.4 in creativity. The total score obtained by Ethereum was 129.4 points. In the second-place comes Steem with 115.9 points and then Lisk scoring 104.89 points.
Bitcoin coin ranks 13th scoring 88.1 points, the same as Verge.
The Twitter account cnLedger uploaded a table that shows the ranking cited by ethereumworldnews.com:
During the last year, China took several measures to con troll cryptocurrencies and banned Initial Coin Offerings (ICOs). Virtual currency trading activities are also banned.
Notably, China’s intention to create a national cryptocurrency was a pioneer. Russia, Venezuela, and Iran followed the same way.
The underlying technology of cryptocurrencies, Blockchain, can be applied to many other industries like finance, healthcare, supply chain, and others. And it is known that China is one of the leading countries regarding Blockchain tech.
In 2017, according to Reuters, China registered more than half of the world’s Blockchain related patent applications. This trend seems to be continued in 2018. That is the obvious reason behind the government’s intention to understand how cryptocurrencies work, how they are being developed and what they have to offer.
Ethereum has been selected as the network with the second-highest score in technology, the best score in the application and a very good score in innovation. Notably, the market capitalization of the coin is unrelated to the index. Litecoin, Ripple and Bitcoin Cash do not have a good ranking. They were 21st, 17th, and 25th respectively. EOS is not present in the report.
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