The Center for Information and Industry Development (CCID) established by China’s Ministry of Industry and Information Technology has released its fifteenth crypto ranking report.
The latest edition of the highly inconsisten rankings sees Chinese coins dominating the charts once more with EOS (1st), TRON (3rd), NULS (4th), Lisk (5th), NEO (6th) and BitShares (8th) all scoring very well alongside Chinese controlled Ethereum and Bitcoin who rank 2nd and 9th respectively. That makes 8 of the top 10 being Chinese cryptocurrencies and I need to dig deeper into who really controls STEEM as that could make 9.
CCID is a research institution mandated to oversee the growth of China’s information industries, including the cryptocurrency sector. The institution creates a link between the government and business institutions, and carries out market research, offers business certifications and other professional services.
The rankings are compiled by CCID (Qingdao) Blockchain Research Institute, an entity established by the CCID, in collaboration with other organizations such as the CCID Think Tank and the China Software Evaluation Center.
The center released its first crypto rating report dubbed –The First Global Blockchain Technology Assessment Index on May 17, 2018, and ranked Ethereum as the best crypto project with Bitcoin claiming the thirteenth position. The latest end-year ranking report comes after China’s President Xi Jinping’s announced plans to push for the adoption of blockchain technology.
The center evaluated 35 crypto projects, which were also ranked in the previous rankings released in September. The projects were evaluated based on their applicability, creativity, innovation, and underlying technology.
This report featured a slight change from the last ranking of the projects. EOS still remained China’s favorite project once again, clinching the top position with 151.8 points. However, the project dropped points from the previous ranking, where it had scored 153.1.
Ethereum trounced TRON to come second with 141.0 points. Justin Sun’s TRON dropped by one position to claim the third position with 135.8 points scoring low points in ‘Applicability’ and ‘Total Index’.
Other changes on the list included Lisk rising from 7th to 5th position and NEO moving from 9th up to 6th. Qtum dropped from 8th to 14th, while Bitcoin moved two places to the 9th spot. Last on the list is IOTA having dropped from the 33rd position from the previous index to replace Decred, which is now sitting at 34th position.
CCID Uses A Unique Crypto Ranking Method
Almost similar to how we rank crypto projects here in Wise Cryptos, the CCID also employs a unique, obscure methodology. This, in turn, makes their ranking index extraneous in particular crypto settings. Nonetheless, according to the CCID, the rankings mainly evaluates the technical implementation of the project, chiefly examining its role, performance, security, and decentralization. CCID explained that:
“The result of this assessment will allow the CCID group to provide better technical consulting services for government agencies, business enterprises, research institutes, and technology developers.”
Such rankings in China’s crypto space are crucial as they create competitiveness and also specify which technological aspects are highly valued in crypto/blockchain projects.