New Chinese study puts Ethereum as top cryptocurrency, Bitcoin 13th

Evarado Alatorre
May 18, 2018

The project is under the control of the Ministry of Industry and Information Technology's China Electronic Information Industry Development department (CCID).

According a new index established by the governmental China Center for Information Industry Development Ethereum is the top public blockchain on the market today, whilst the original cryptocurrency Bitcoin fails to make the top 10.

The crypto ranking index followed certain criteria to rank the cryptocurrencies that involve basic technology, applicability, and creativity.

Ethereum ranked first with a total score of 129.4, which can be attributed to a score of 80.3 in the technology category. Ethereum (ETH) is world's second largest cryptocurrency whose market value is now $711 with the market cap of $70 billion.

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New Chinese study puts Ethereum as top cryptocurrency, Bitcoin 13th

Apart from Ethereum, the top 5 spots also covered Steem, Lisk, Neo, and Komodo in this order. Surprisingly, bitcoin, the world's most popular digital currency, ranked 13 out of 28 coins, mostly because of its low 13.1 application score.

He added, "I believe at least it's a sign that the officials are starting to treat crypto projects more like a neutral endeavour towards better technology and innovations, rather than just challenging the power and authority of banks and government". The bitcoin community was understandably outraged by the ranking of bitcoin at 13, considering that bitcoin has the longest track record as the most secure and dominant cryptocurrency in the global market. Other cryptocurrencies that scored better than Bitcoin are Stellar, Cardano, IOTA, Monero, Stratis, Qtum, and BitShares.

Reportedly, it is the first technology-focused assessment index of a public chain that the Chinese government would be releasing on a monthly basis.

The public ranking table rolls out the 16th to 28th positions, viz. Ethereum Classic, Ripple, Dash, Siacoin, Bytecoin, Litecoin, Ark, Zcash, Nano, Bitcoin Cash, Decred, Hshare, and NEM. The author or the publication does not hold any responsibility for your personal financial loss.

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