Bitcoin falls to the 19th[!] in the latest blockchain rankings in China


Chinese bitcoin

A final report on the blockchain ranking put Bitcoin behind new blockchain projects such as EOS and Ethereum.

The sixth Global Public Blockchain Technology Assessment Index, published by the China Electronic Information Industry Development (CCID), a governmental organization, listed bitcoins at the nineteenth position on the basis of technological merits. At the same time, the blockchain projects that emerged after bitcoin have taken the top positions, with EOS topping and Ethereum, Nebula, Ripple, NEO, IOTA, among others, closely following.

The index evaluated a total of 33 public blockchain projects based on their core technology, applicability and creativity. While Bitcoin was not able to beat many of its closest blockchain peers on all the parameters mentioned, it still managed to keep up with its forked version, Bitcoin Cash, which is in the 31st place in the index .

Interestingly, the same August index report put Bitcoin among the top ten blockchain projects. The last month saw the digital currency drop to 17th position with a total of 93.2 index points. In October, the points fell further to 92.5, bringing the ranking of the bitcoin blockcoin to 19th place.

The decline may have appeared in the wake of the lower adoption of Bitcoin while settling payments or creating decentralized applications (dapp). The public digital currency blockchain so far is based on a third-party solution to solve the prevalent scalability problem. It has made Bitcoin a less attractive payment tool than its colleagues whose blockchain confirms transactions faster.

However, the CCID pointers system has revealed the Bitcoin domain for innovation. The digital currency scored 34.6 points on creativity, dragging the rest of the 32 coins listed in the index.

"Aspect of innovation, the top five were Bitcoin, Ethereum, Square, EOS, NULS and Cardano," reads the report. "Compared to the index of the previous period, the index has increased the most innovative public chain: NULS, IOTA, Nebula and Bitcoin Cash. "

EOS, Ethereum Dominate

EOS and Ethereum continue to dominate the CCID index for the fourth time. The first and smart contract platforms this time achieved scores of 150.5 and 136.3 points, respectively, mainly in terms of basic technology and applicability, to which Bitcoin was missing. The report said:

"At the moment, EOS and Ethereum are undoubtedly the preferred platforms for Dapp development around the world, and EOS is showing a stronger momentum.The data show that EOS Dapp is highly active and user increases are wide. "

New blockchain projects like Ripple and Nuls have entered the top 10, pushing Lisk and Qtum out. While Ripple had a strong month with the launch of its xRapid payment solution and partnerships with major banking and financial companies, Nuls, a blockchain project based in China, has scaled its operations into the US market.

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