The Chinese centre for information industry development released its monthly ranking of the top performing cryptocurrencies in the country. EOS remains the coin to beat, out of the 31 projects, with both Bitcoin (BTC) and Bitcoin Cash (BCH) taking a slight leave from the previous month.
A parastatal of the Chinese Ministry of Information Technology; the centre for information industry officially released the latest ranking, which is the third the agency has released up to date.
The centre did not exactly start with the 31 crypto projects; it ranked this month. The ranking started in May with 28 crypto project and subsequently added EOS and Nebulas. GxChain is the latest addition to the franchise, making a total of 31 projects in the month of July.
The latest ranking did not change at the top, as EOS remains on top, followed by Ethereum. The bottom standing remains static too as NEM maintain its position as the last on the list. Bitcoin moved a step up to the 16th place from the 17th position it occupied last month, while Bitcoin Cash moved three places up from the 28th position, it held last month to 25th.
Debutant GxChain, a “blockchain based decentralised data exchange” built on a stable Yuan-back cryptocurrency, started off it’s ranking on the 14th position. The cryptocurrency is described as a “bridge between data sources released on different platforms.”
The ranking method as stated by the agency involves a “comprehensive investigation and evaluation on the public chain from three aspects: basic technology, application, and innovation.” Although, some observers are skeptical about the ranking, stating that no stat is ever accurate and thus cannot fully trust the rankings by the agency.
The agency further said that “the basic technology (aspect) mainly addresses the technical level of the current public chain, including evaluation of functions, performance, security and decentralisation. In terms of basic technical sub-indicators, EOS scored the highest.”
“The application (aspect) mainly examines the comprehension ability of the public chain of support practical application, including node deployment, wallet application, development support and application implementation.” Ethereum ranked high in this regard.
“The innovation assessment focuses on continuous innovation in public chain source code, including the numbers of contributors, code update and code impact,” the agency claimed that Bitcoin ranked first regarding its global influence and high innovation activity.
Though, there are lots of bodies that rank the progress or otherwise of tokens, like CryptoSlate, CoinMarketCap, CoinRanking and others, citing the indecision of some analysts in believing the latest ranking as most give conflicting results.
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