China Updates Crypto Rankings, Downgrades Bitcoin – Funds Bitcoin News

The China Information Industry Development Center has updated its crypto ranking. The list contains 33 crypto projects, which are divided into three separate categories in total. At the top of the overall ranking are EOS, Ethereum and Bitshares. However, Bitcoin has been downgraded.

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China’s fifth ranking

China updates crypto rankings and downgrades bitcoinThe Chinese Information Industry Development Center (CCID) under the country’s Ministry of Industry and Information Technology officially released its fifth crypto ranking on September 20. Thirty-three crypto projects are assessed. Everyone receives an overall rating and a separate rating for each of the three categories – basic technology, usability, and creativity.

In the overall ranking published on 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 12th to 3rd place.

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

China updates crypto rankings and downgrades bitcoin

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 reached the top ten list in the overall category for the first time.

Ranking methodology

The center stated that the latest method of assessment has seen some improvements compared to the previous month, stating:

The evaluation of the public chain development tools has been classified and refined, and the accounting methodology for actual public chain throughput has been optimized.

The basic technology category “mainly evaluates the technical degree of implementation of the public chain and examines the function, performance, security and decentralization of the public chain”, described the center. This category makes up 65 percent of the overall ranking.

China updates crypto rankings and downgrades bitcoinThe applicability category “primarily evaluates the broad level of public chain support for practical applications, including node deployment, wallet application, development support, and application implementation,” the CCID stated. This category makes up 20 percent of the overall ranking.

Creativity only has 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,” explained the center.

Regarding the latest ranking, the CCID wrote:

Compared to the previous period, the EOS and Ethereum indices fell 13.2 and 5.3, respectively, and Bitshares rose 9.9. Bitshares’ position also jumped from 12th in the previous period to 3rd place.

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

Images courtesy of Shutterstock and CCID.

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BCH, Bitcoin, Bitcoin Cash, BitShares, BTC, CCID, China, Chinese, Cryptocurrencies, Cryptocurrency, Digital Currency, EOS, ETH, Ethereum, Innovation, N-Economy, Projects, Ranking, Virtual Currency

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