Chinese Government Ranks Ethereum 1st, Bitcoin 13th in Cryptocurrency Rating

Chinese Government Ranks Ethereum 1st, Bitcoin 13th in Cryptocurrency Rating

Altcoins Bitcoin Cryptocurrency News
May 17, 2018 by Sandra Onyeiwu
1537
The Ministry of Industry and Information Technology of China has published its ranking of blockchain networks, evaluated according to three criteria: technology, application and innovation. The list rates types of projects in the cryptocurrency sector and puts Ethereum at the top. Followed by Steem, Lisk, NEO and Komodo. Bitcoin came in at 13. As some
Bitzamp


The Ministry of Industry and Information Technology of China has published its ranking of blockchain networks, evaluated according to three criteria: technology, application and innovation.

The list rates types of projects in the cryptocurrency sector and puts Ethereum at the top. Followed by Steem, Lisk, NEO and Komodo. Bitcoin came in at 13.

As some people might expect Bitcoin to have the highest score in the innovation aspect. Its is not surprising, as it has the first-mover advantage.
Any other currency on this list didn’t exist prior to Bitcoin. However, a strong innovation score doesn’t make Bitcoin all that great. These public blockchain ratings rank Bitcoin 13th out of 28, which is “average” at best.

As shown in the chart below, the Chinese government ranked Ethereum as the world’s best blockchain network at number 1.

Another surprising addition to its top 10 rankings was Monero at number 9, given that several governments including the Japanese government and its financial services agency (FSA) have expressed their concerns towards cryptocurrencies like Monero and Zcash that are capable of processing anonymous payments that could be associated with money laundering and criminal activities.

On the technology front, Bitcoin has the lowest score of the entire top 15. It receives a 39.4 percentage, which is rather shocking. When its scaling solutions come into play, that number may improve. Until then, it is the least technologically-adept project in the top 15, according to the public blockchain ratings. The world’s leading cryptocurrency is also lackluster when it comes to application purposes, although some projects score even fewer points.

 

Get Bitzamp Latest Update By Downloading our Mobile App: Bitzamp – Cryptocurrency News – Apps on Google Play


Join Us On Telegram


Add a Comment