China’s CCID has published another crypto project evaluation chart, where it overlooks 37 projects which the country’s researchers consider the “best”. EOS, Ethereum, and Tron lead the pack while Bitcoin trails behind.
On Tuesday, China published the 13th update of their crypto rankings chart, and not much has changed. The three main attributes that were judged was the technology behind the project, applicability what it offers, and creativity along the way of development. The first three spots are the following, first comes EOS, then second is Ethereum, and third – TRON.
The CCID only started ranking TRON in February, and back then it was in the second place, so in this chart, it has dropped by a spot. What could come as a surprise to many Bitcoin believers and maximalists, Bitcoin is ranked only in the 11thspot, stuck between Cosmos and Stellar. However, Bitcoin is up one place from the previous rankings list which came out in May.
This time also featured new projects and the CCID has added two more. Those are Cosmos (ATOM) and Zilliqa (ZIL). What is interesting is that Cosmos only fairly recently came out and has seen a great recognition from both investors and professionals. The CCID has ranked Cosmos in the 10thplace, next to Bitcoin in 11th, and behind STEEM (9thplace), the blockchain-powered social network.
However, Zilliqa was ranked only 24th, next to Tezos and behind Stratis. Both added coins haven’t yet seen a worthy price movement, so I believe it’s a little bit too early to rush. Or, on the other side, it could be that no one takes these China’s rankings quite seriously. However, a few industry professionals believe that these are very bullish signs by China. Also, in other local China news, it appears that China has recognized Bitcoin as a commodity:
“On July 18, this court confirmed the ‘virtual property’ attribute of bitcoin, which is the first time that Chinese courts have determined the virtual property attribute of digital currencies,” writes Yicai, the local news media.
The Evaluation Model
So how does China evaluate these projects? There must be united criteria, because there are total index points on each section (Technology, Applicability, Creativity) and at the end, they get summed together. CCID has revealed their criteria and described each of them and how much of the total score does it account for.
For example, the first – Technology (or Basic Tech how it’s in the research) accounts for 65% of the total score and is evaluated by looking at the public chain, and inspecting areas such as function, performance, decentralization, and safety.
Next – Applicability is being evaluated by looking at how practical applications are being added to the project. This index accounts only for 20% of the total score.
And last – Creativity. This accounts only for 15% of the total score and the researchers are looking at how many developers are there on the project, how recently the code is being updated, and which other projects have affected or influenced the code of the project.
Overall, this list might be something to think about. Because this is China’s Center for Information and Industry Development, it’s no independent bloggers’ research, this is coming from the communist country which recently has banned Bitcoin mining and has thought of banning crypto as such. Although, when looking at previous evaluations, not much has changed in terms of price movement, so this should be only considered as long-term advice.