EOS again retain the #1 spot in the recent ranking by the Chinese government. The ranking according to its organizers prioritizes innovation and application, but not to particular about market capitalization. This is not the first time that the Chinese government will be rating EOS above other cryptocurrencies, such as Bitcoin, which is the worlds most popular cryptocurrency, and largest by market cap and trading volume which moved up seven positions compared to the last edition of the ranking.
Yet Another Crypto Ranking
The Chinese government through China’s Center for Information Industry Development [CCID], recently released another edition of its Global Public Chain Technology Evaluation Index. The latest edition is the third time the agency will be ranking the top cryptocurrency and blockchain projects in the world.
The agency ranks the top coins on technology, application, and innovation. EOS retains its crown as the top cryptocurrency project again, despite raised eyebrows, as observers raised a pointer, which bothers on its botched mainnet launch in June among other issues.
Analysts were quick to the point that, the strong performance of the coin in the ranking is not surprising. They argue that, compared to other coins like Bitcoin and Ethereum, the proof-of-stake protocol of EOS is capable of processing a huge number of transactions, which is way beyond the capability of the other coins.
The next two positions were occupied by Ethereum and Komodo at second and third spots respectively. Though Ethereum holds the same spot based on market capitalization, the same cannot be said about Komodo as it wasn’t even in the top 15 as at last months’ edition of the publication.
Ethereum’s contender, NEO, is also seen to have moved from its top 3 positions as at last ranking to the 5th position.
Bitcoin’s Giant Leap
The first two editions of the ranking did not particularly favor Bitcoin, but a structural change in the market seems to favor the virtual currency of recent, as the coin now accounts for more than 52% of the entire market capitalization for cryptocurrencies.
Most observers don’t take the rankings seriously, as there are lots of bodies that rank the performance of the coins each with its specifics and peculiarities.