Chinese Rankings of Cryptocurrency Put Bitcoin Higher, EOS Still on Top
Rankings by the CCID were updated on Monday, shifting Bitcoin to a higher position and taking note of other trends in the cryptocurrency world.
The Chinese Center for Information Industry Development (CCID), an organization working under China’s Ministry of Industry and Information Technology, posted rankings on Monday that reveal new aspects of its analysis of blockchain technology implementations by various cryptocurrencies.
After months of low rankings, Bitcoin finally reaches the top 10, jumping over six other coins since the last analysis was published.
“In terms of innovation sub-indicators, Bitcoin’s recent code update is very active, with a score of 40.3, expanding its lead… Compared with the previous index, the top five most innovative coins are EOS, Bitcoin, Bitcoin Cash, Hcash, and Stratis,” the report said.
EOS remains CCID’s favorite in terms of its basic technology, but it appears to have lost some points in the creativity column, dropping from 44.1 in an earlier review at the beginning of July to 36.7.
However, basic technology apparently takes the cake when assessing a coin’s overall ranking, explaining why EOS goes so far up the chart.
“Basic technology mainly assesses the technical level of the public chain that has been launched. The assessment includes functions, performance, safety and decentralization. The basic technology has a weight of 65% in the comprehensive assessment,” the CCID wrote.
It’s still interesting that CCID awards EOS the most points in this category, despite “decentralization” being one of its criteria. A few months ago, ECAF—the arbitrator for the EOS network—froze 27 accounts immediately following a scam.
The argument for partial centralization in EOS, according to the individuals we have spoken with, comes from a position of being able to act quicker when things go sour, and thus providing at least a modicum of recourse for those who stand to lose their funds due to various circumstances.
The analysis adds that Tezos, a coin the organization chose to add alongside NULS, “has outstanding features in technological innovation.”
Although Tezos lost a significant chunk of its value against Bitcoin in mid-July, it also remains number 16 in terms of market capitalization and a highly-traded coin since its drop.