Last week, the China Electronic Information Industry Development (CCID) organization updated its blockchain rankings. According to the new update, Ethereum does not rank as the best blockchain in the global market anymore.
The new altcoin that took Ethereum’s place is EOS. After pausing the blockchain network because of critical bugs and suspension of 27 user accounts without any reasoning, EOS was ranked as the first blockchain in China by the government – ahead of Ethereum.
More importantly, EOS was ranked as the best blockchain, sitting at the top. The Chinese government claimed that this is the case because of the technology and innovation that are underlying in EOS, as seen in the table below (Source: Coinness).
The truth is, no blockchain ranking can be perfect because there are thousands of blockchain projects currently in existence – segregated into at least 10 different categories which include smart contracts, proof-of-stake (PoS), bank protocol, tokenized security, utility token, appcoins, payment, and others.
Based on this criteria, there could always be a discrepancy in the ranking of the top blockchain networks. However, the Chinese government’s CCID blockchain rating has a decent structure according to which, EOS is placed at top of the list with 102 points in its technology, 15.4 points in applicability and 44.1 points in innovation.
Ethereum was ranked as the second-best blockchain network, while Bitcoin has not even finished in the top ten.
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