China Updates Crypto Rankings, Downgrades Bitcoin

The China Center for Information Industry Development has updated its crypto rankings. The list contains 33 crypto projects, ranked overall and in three separate categories. High up in the overall ranking are EOS, Ethereum, and Bitshares. Bitcoin, however, has been downgraded.

Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals

China’s Fifth Ranking

The China Center for Information Industry Development (CCID), under the country’s Ministry of Industry and Information Technology, officially published its fifth crypto rankings on Sept. 20. Thirty-three crypto projects are ranked. Each is given an overall score and a separate score for each of the three categories – basic technology, application, and innovation.

In the overall ranking published Thursday, the center put EOS at the top of the list, followed by Ethereum, and then Bitshares. EOS and Ethereum were also at the top of last month’s overall ranking. Bitshares, however, jumped from the 12th place the 3rd place.

BTC was downgraded from the 10th place to the 16th place while BCH fell a few places, from the 29th place to the 31st place. In the innovation category, however, BTC tops the list, with EOS in the 3rd place.

The center started ranking 28 crypto projects in May. Two more projects were added in June, one in July, and two in August. Last month BTC made the top ten list in the overall category for the first time.

Ranking Methodology

The center explained that there were some improvements in the latest evaluation methodology compared to the previous month, stating:

The evaluation of the public chain development tools was classified and refined, and the accounting method of the actual throughput of the public chain was optimized.

The basic technology category “mainly evaluates the technical realization level of the public chain, and examines the function, performance, safety and decentralization of the public chain,” the center described. This category accounts for 65 percent of the overall ranking.

The application category “mainly evaluates the comprehensive level of public chain support for practical applications, involving node deployment, wallet application, development support and application implementation,” the CCID explained. This category accounts for 20 percent of the overall ranking.

Innovation only carries a weight of 15 percent in the overall ranking. This category “focuses on the continuous innovation of the public chain, including developer size, code update and code impact,” the center detailed.

Referring to the latest ranking, the CCID wrote:

Compared with the previous period, the EOS and Ethereum indices decreased by 13.2 and 5.3 respectively, and Bitshares rose by 9.9. The position of Bitshares also jumped from the 12th in the previous period to the 3rd place.

What do you think of China’s latest crypto ranking? Let us know in the comments section below.

Images courtesy of Shutterstock and CCID.

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