China published its blockchain rankings for August, classifying public blockchain networks like Bitcoin and Ethereum based on their application and technology.
The rankings, created by the China Electronic Information Industry Development Research Institute and the China Software Testing Center, presented contributions from professors and researchers at the country's most prestigious educational institutions including Tsinghua and Beijing University.
EOS # 1 as expected
Previous rankings ranked EOS above both Ethereum and Bitcoin as the best blockchain network in the global cryptocurrency industry. The new rankings created by CCID and CSTC, two institutions financed by the Chinese government, have reported EOS once again as the world's biggest blockchain network, with Ethereum and Bitcoin lagging behind.
This month, China ranked Ethereum in the second and Bitcoin in tenth place, placing chips and other large cryptocurrencies like NEO and Stellar in view of the dominant cryptocurrency.
Komodo, Nebulas, NEO, Stellar, Lisk, GXChain and Steem were all higher up than Bitcoin, with strengths in applicability and technology. Bitcoin recorded the highest points in the innovation category, probably due to its long experience and the status of the first blockchain and cryptocurrency network in the market.
In July, CCID ranked Bitcoin as the seventeenth best blockchain network in the market and last month, Bitcoin has risen through the ranks.
Over the past 30 days, Bitcoin and the rest of the cryptocurrency industry have not undergone major technical developments or changes in the code base of key digital assets. Thus, it is possible that the strong performance of BTC as a store of value in the cryptographic sector has led the government to classify Bitcoin higher than before
. Smart Contract protocols and blockchain networks designed to support decentralized applications (dApps) higher and higher in the CCID ranking, because the criteria used by the institution establish the technology and the application as the two main categories.
The application in the context of CCID rankings refers to the applicability of blockchain in other systems. The technology, based on previous rankings released by CCID, refers to the scalability and capacity of blockchains.
In the case of EOS, which received the highest points in the technology category at 104.3 points, it is highly probable that its proof is the consent algorithm of PoE (Poke), which is able to processing a considerable number of transactions compared to other blockchains such as Ethereum and Bitcoin, has led the government to classify it as the main blockchain.
But, if the PoS aspect of EOS allowed it to be classified as the blockchain on top, it is not clear why Cardano was left at 15, as it is the second largest network of PoS blockchain in the market valuation behind EOS .
Track Record is important
The rationale behind CCID's decision to classify EOS, Ethereum and Stellar, which are essentially high-performance blockchain networks, above Bitcoin is clear, given the criteria that prioritize innovation and application.
Nebulas has bee n able to guarantee a sixth place in the ranking because it supports 6,800 dApps on the network and 35,000 transactions per second.
But also the track record and security are important to consider in a ranking that includes a wide range of blockchain networks, including bank-centered Ripple, value shop like Bitcoin and PoS dApp networks like EOS.
Featured image from Shutterstock.
Follow us on Telegram or subscribe to our newsletter here.
• Sign up for CCN's Crypto community for $ 9.99 a month, click here.
• Do you want exclusive analysis and in-depth analysis encrypted by Hacked.com? Click here.
• Open positions on CCN: sought-after full-time and part-time journalists.