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China’s Center for Information and Industrial Development has revised its ranking of 37 crypto projects. Bitcoin has dropped from the previous rankings.
As the Chinese government focuses on launching its central bank digital currency, the Center for Information and Industry Development (CCID), under the Chinese Ministry of Industry and Information Technology, continues to evaluate and rank crypto projects.
The center released its 19th ranking update on Wednesday. The ranking and evaluation work is carried out every two months. A total of 37 crypto projects were assessed and classified overall, as well as into three separate categories: core technology, applicability and creativity.
There have been some changes in the top positions of the overall standings. While EOS remains the center’s favorite, Tron dropped from second place to fourth. Tron took second place in the last three updates: June, April and February. The current ranking places Ethereum in second place, followed by IOST and then by Tron. Bitcoin dropped two places from 12th to 14th while Bitcoin Cash moved up from 34th to 30th.
The center explained that the evaluation model remained unchanged from the previous evaluation. The core technology sub-index represents 65% of the total score, the applicability or innovation sub-index 20% and the creativity sub-index 15%.
The rankings of crypto projects are compiled by the CCID (Qingdao) Blockchain Research Institute, an entity established by the CCID. Several organizations help with the evaluation work, including the CCID think tank and the China Software Evaluation Center. “The outcome of this evaluation will enable the CCID group to provide better technical consulting services for government agencies, businesses, research institutes and technology developers,” the center previously explained.
As for China’s digital currency backed by the People’s Bank of China (PBOC), China’s Ministry of Commerce announced last week that its pilot run will be expanded to include “Guangdong-Hong Kong-Macao Greater Bay Area, Beijing-Tianjin- Hebei region and the Yangtze River delta region “. Furthermore, the digital yuan will also be tested during the 2022 Winter Olympics in Beijing and expanded to other regions as appropriate. Meanwhile, cryptocurrency analytics firm Chainalysis reported that around $ 50 billion worth of cryptocurrency has been moved out of China in the past 12 months as the Chinese economy suffered from trade wars and devaluation of the yuan.
What do you think of this crypto project ranking? Let us know in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, CCID
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