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China’s Center for Information and Industrial Development has reviewed the rankings of its cryptocurrency projects. Thirty-seven crypto projects were evaluated overall and in three sub-categories. Bitcoin rose while the top three places remained occupied by EOS, Tron and Ethereum.
CCID 18th ranking released
The Center for Information and Industry Development (CCID), under the Chinese Ministry of Industry and Information Technology, released its 18th crypto project rankings update on Thursday. The last update was in April when the review was affected by the coronavirus pandemic. This month, the same 37 crypto projects were classified broadly and into three sub-categories: core technology, applicability, and creativity.
In the 18th ranking, BTC improved slightly from the April general review, moving from 14th to 12th. BCH dropped slightly from 31st to 34th place. Meanwhile, EOS, Tron and ETH continue to top the overall standings.
The CCID explained in its announcement on Thursday that its valuation methodology has not changed from the previous period. The underlying technology sub-index represents 65% of the total score. The innovation sub-index represents 20% of the total, while the creativity sub-index represents 15%.
The rankings are compiled every two months by the CCID (Qingdao) Blockchain Research Institute, an entity established by the CCID. Several organizations participate in the evaluation work, including the CCID think tank and the China Software Evaluation Center. The center previously stated that “The outcome of this assessment will enable the CCID group to provide better technical consulting services for government agencies, commercial enterprises, research institutes and technology developers.”
According to blockchain data firm Longhash, there are currently 83,199 blockchain companies registered in China, 29,053 of which are still operational while 59,339 companies have had their legal status or license revoked. Regarding cryptocurrencies, several Chinese courts have ruled that bitcoin and ethereum are legal properties, protected by Chinese law. In May, China’s top legislature passed the Civil Code that protects cryptographic legacy.
What do you think of this CCID cryptographic ranking? Let us know in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, CCID
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