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China’s Ministry of Industry and Information Technology (MIIT) Published Its Global Public Blockchain Technology Assessment Index (GPBTAI), GXChain Was Placed Fourth in The World, with a total score of 108.3. GXChain was highly regarded by senior evaluation specialists.
Unlike most industry awards and assessments, GPBTAI led by MIIT is highly professional and valuable. GPBTAI is managed by China’s Center for Information and Industry Development (CCID), the research institute under MIIT, which dedicates to scientifically evaluate the development level of global public blockchain technology, accurately grasp the innovation trend of blockchain technology, and undertake the exploration and establishment of national public blockchain industry standards. At present, CCID does not accept applications from the public for projects to be included in its assessment list. Instead, CCID’s core team selects all eligible public blockchain projects to be considered based on its strict inclusion criteria. GXChain also received the attention of many popular overseas media, such as NASDAQ, as it became CCID’s 3rd monthly lucky winner last week.
CCID’s GPBTAI is managed by lots of renowned scholars. CCID’s core team brings together first-line scholars and technical experts in the field of blockchain which have rich experience in practice and project assessment, including professor Shoucheng Zhang of Stanford University, professor Zhong Chen of Peking University, professor Ke Xu of Tsinghua University, CTO Jiang Li of Microsoft China, CTO Jing Wang of bubi and vice president Guohua Gan of taiyiyun. In the previous, CCID’s core team assessed several famous public blockchains including Ethereum, EOS, Cardano, and Bitshares. Every monthly GPBTAI was reported by Reuters, Daily Mail, CNBC, Yahoo Finance, NASDAQ and Coindesk, which has become a significant reference standard.
GXChain got a high score of 108.3 and was in fourth place for CCID’s GPBTAI ranking, and all of these was due to the advantages in technology, applicability, and innovation of the project.
GXChain started its business in the past two years with the fast-developing trend and dedicated with the innovation of blockchain underlying protocol and technical applicability. CCID’s marking criteria reflects that GXChain has dominate advantages in technology, applicability, and innovation.
For technical strength, it is developed on basis of Graphene and DPoS consensus mechanism. Meanwhile, GXChain developed BaaS, G-ID and other abundant services which support smart contract and project commercialization. It is expected that after the launch of GXChain virtual machine – GVM in September, its technology score and overall ranking will improve further.
Regarding applicability, GXChain has already commercialized. The transaction amount of To B product -decentralized data marketplace has exceeded 50 million CNY and To C product – Blockcity has 1.89 million real-name verified users.
In terms of innovation, GXChain has 13 software copyright, such as the combination of asymmetric encryption technology and DES, side chain storage, the independently developed configuration module and data structuring control algorithm. GXChain has long since open its public blockchain code and DApp code.
The rapid prosperity of GXChain ecosystem also confirms its expanding influence and attraction. At present, GXS LABS has already received over 3000 applications from third-party developers and launched three DApps which have been used by over a thousand users. Keep the development threshold to a minimum and deploy more applications can improve GXChain’s applicability score. Besides followed by developers, 11 venture capitals including ZHEN FUND, INBlockchain, LFENBUSHI capital and YUANDAO capital appreciated the value of the GXChain ecosystem and invested last week.
Globally, the blockchain industry, which was a bubble in 2017, is gradually becoming rational. For those mere passers-by on the stage of history, they were destined to stagnate or even bury in oblivion. Whereas for those dedicated to underlying technology and ecosystem expansion, they will shine like gold. For investors and practitioners, technology, commercialization and public blockchain ecosystem expansion are the valuable things. Resources will also be refocused to excellent projects, this is also the faith and persistence of GXChain.
GXChain was included CCID’s GPBTAI this time and was highly regarded by senior evaluation specialists. This is not only the recognition of GXChain technology and ecosystem by colleagues and experts but also powerful support for its global influence. GXChain is going to foster more valuable and novel DApps and deliver a better data ecosystem in the future.