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- The Chinese Center for Information and Industry Development (CCID) has released the twentieth report evaluating the best cryptocurrencies on the market.
- EOS is still in first place, followed by Ethereum, IOST and TRON.
The Chinese Ministry of Industry and Information Technology has unveiled its new project report, which examines the most valuable cryptocurrencies on the market based on various parameters. The authority updates this ranking once a month and wants to offer potential investors and companies a first overview.
EOS further on, Ethereum makes its way up to 2nd place
The top 3 cryptocurrencies have changed slightly. EOS is still in first place with 145.5 points, followed by Ethereum (formerly 3rd place) and IOST (formerly 4th place). TRON dropped slightly to fourth place. IOTA, on the other hand, managed to move up to 30th place, after finishing 37th in the rankings last month. 
According to the official information of the CCID, the analysis considers different indicators and categories in order to be able to represent the complex world of cryptocurrencies in a matrix in a simple and understandable way. The report goes on to state that the index evaluates, among other things, the ability to use currency in business and industry, as well as in people’s daily lives.
In addition to this the Ranking also has a “creativity index”, which is not further described in detail, but is larger with Bitcoin with 43.8. The strongest weighting in the ranking finds the following metrics: applicability, availability and adaptation of portfolios, nodes, and providing a suitable test environment for developers. While some companies in the industry find this ranking useful, it has often been criticized in the past.
Thus, QTUM founder Patrick Dai wondered why his cryptocurrency has risen in the rankings even though there have been no significant updates in the software or roadmap. He states:
I don’t know what their standard is, but Qtum is higher than last time.
Representatives of VeChain and IOTA also wondered how the exact evaluation and ranking was achieved. VeChain has numerous partnerships with the largest companies in the world and most recently received the China Green Technology Innovation Award at the largest high-tech exhibition in China. Even a consideration of patents, which IOTA refers to as valuable technology, paints a clearly different picture.
To this end, IOTA Archive investigated the relationship between the number of patent references and the number of days since the respective cryptocurrency launch. It was found that IOTA ranks 6th with 245 patent references, behind Bitcoin (8,806), Ethereum (4,530x), Litecoin (785x), Ripple (725x) and EOS (325x).
Adoption on the way? Companies have a different view on what’s valuable to them than cryptocurrency investors
Judging by the patents safeguarding their inventions, companies don’t seem to care about cryptocurrencies, with very few exceptions
Same data as before, different angle: pic.twitter.com/r7cwjNXFAr
– IOTA archive (@_iotaarchive) November 4, 2020
Although IOTA is one of the seemingly “young” cryptocurrencies on the market, companies are increasingly interested in tangle technology. The CCID has not yet disclosed the exact metrics, so criticism from industry experts seems justified.
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