Bitcoin Climbs China’s Crypto Rankings to #12 with Meteoric 135% 2019 Gains
By CCN: China Electronic Information Industry Development (CCID), an agency that works directly under the Ministry of Industry and Information Technology, has released its newest crypto rankings, which saw bitcoin climb up to 12th from 15th.
EOS tops CCID rankings, bitcoin climbs 3 places (source: CCID)
In March, CCID ranked bitcoin, the most dominant crypto asset in the global market, at 15th while placing EOS as the top blockchain protocol in terms of applicability and creativity. EOS and TRON, two scalability-focused blockchain networks with large transaction capacity, have topped CCID’s crypto rankings once again.
Why did bitcoin climb up?
The crypto rankings of CCID prioritizes applicability and creativity over security and decentralization, which by default would favor large capacity blockchain networks over proof-of-work blockchain networks that are primarily utilized as settlement networks for payments.
In its May report, CCID emphasized that the criteria used to evaluate blockchain protocols have not changed, with basic technology, application, and innovation as three main criterions.
“The subject of this technical assessment has not changed, including 35 well-known public chains around the world. The evaluation model is consistent with the previous issue and is still evaluated in three main areas: basic technology, application and innovation,” the document released by CCID read.
Bitcoin has consistently ranked the highest for creativity on CCID’s rankings, most likely because it is the first crypto asset to ever exist and to pave the pathway for other blockchain protocols to emerge.
