The cryptocurrency market is going through a rough phase as most major cryptocurrencies are seeing a plunge in prices. As the currencies try to recover, a ranking from China might shed some light on the cryptocurrencies’ standing in their market.
The Center for Information and Industry Development [CCID] released the tenth update of its crypto project ranking on Tuesday. CCID, which comes under China’s Ministry of Industry and Information Technology, stated that this is the second update of 2019, which includes the evaluation of 35 crypto projects, with Tron being the only addition since the last evaluation, reported Bitcoin news.
According to the rating, EOS stands in the first position, pushing Ethereum to the third. Bitcoin [BTC] takes the 13th position on the list, which is an improvement as it was in the 15th position earlier. Bitcoin Cash [BCH] climbed one step from 28th to 27th since the previous evaluation.
According to the publication, the center described Tron as a “low-level public chain with high throughput, high expansion, and high reliability,” adding that it is “compatible with the Ethereum smart contract”. The center claimed that “chain transactions are more active,” and that Tron now has more than 200 Dapps. According to the ratings, the total evaluation of Tron is 145.6, which is the second highest.
The CCID also explained that the current evaluation uses three primary indicators – basic technology, applicability, and creativity. However, for the current evaluation, the weight of the creativity indicator has been increased. The report noted that projects that have shown the most improvements are Nano, Verge, and Qtum.
The top-five public chains for basic technology category are EOS, Tron, Bitshares, Gxchain, and Nano. This category evaluates the technical realization level of the public chain and examines its function, performance, safety, and decentralization.
However, the top-five projects in the applicability category are Ethereum, NEO, Nebulas, Tron, and Ontology. This category evaluates the level of support for practical applications, including node deployment, wallet applications, development support, and application implementations, the report stated.
Bitcoin bagged the first place in the creativity category that aims to grade relentless innovation in the public chain, including the number of developers, code updates, and code impact. Bitcoin was followed by Ethereum, EOS, Lisk, and Tron.
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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.