The concept of cryptocurrency is uncertain and thus the ranking of the virtual curries keeps on varying in a subsequent short period of time. According to the news, the China Center for Information Industry Development (CCID) has updated its crypto coin rankings.
The list contains 33 crypto projects, ranked overall and is bifurcated in 3 different categories. CCID has given all the virtual currencies an overall score and a separate score for each of the three categories – basic technology, application and innovation. In the ranking, EOS, Ethereum and Bitshares have topped the charts. However, China has downgraded the virtual currency Bitcoin as it has come down from the 10th rank to 16th rank.
Comparing the last month’s crypto coin ranking released by CCID, EOS and Ethereum have maintained their positions. However, Bitshares have surged from the 12th rank to the 3rd rank, in the latest updated list.
In regards to the Ranking Methodology, the center explained that there were some improvements in the latest evaluation methodology compared to the previous month. It stated, ”The evaluation of the public chain development tools was classified and refined, and the accounting method of the actual throughout of the public chain was optimized”, as mentioned in Bitcoin News.
The latest ranking list, when compared to the previous month’s, also depicts that the crypto coin, BCH, has plunged furthermore. BCH has come down from the 29th rank to the 31st rank. In the innovation category, however, BTC tops the list, with EOS in the 3rd place.
The basic technology is important when assessing a crypto coin’s overall ranking, explaining why EOS has remained in the first position so far. The CCID wrote that the basic technology mainly measures the technical level of the public chain that has been launched. The assessment usually includes functions, performance, safety and decentralization. The basic technology has a weight of 65% in the comprehensive assessment, as reported by Cryptovest.
The post Bitcoin Plunges in China’s Crypto Coin Rankings appeared first on OWLT Market.
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