TRON Ranks #2, Way Ahead of Bitcoin in China’s Latest Crypto Rankings

October 30, 2019 06:28 UTC
  • China’s Center for Information and Industry Development released its latest Global Blockchain Technology Assesment Index report.
  • EOS ranks first, followed by TRON and Ethereum.
  • XEM and GXChain removed from the CCID’s crypto raking index.

China’s Center for Information and Industry Development (CCID) published a new list of its crypto ranking index. The move comes after President Xi Jinping’s announced a plan to embrace blockchain technology.

China’s Crypto Rankings

CCID is a research institution that oversees the development of China’s information industries. It functions under the oversight of the nation’s Ministry of Industry and Information Technology. The institution creates a bridge between government and businesses. It also provides them with research, certifications, and a wide range of other professional services, as its website explains.

On May 17, 2018, the CCID officially released to the public the first Global Blockchain Technology Assesment Index. The index ranks the top crypto projects based on their underlying technology, applicability, and innovation. At the time, Ethereum received a score of 129.4, ranking No. 1 in the evaluation list while bitcoin ranked 13th.

Now, the institute published the 14th issue of its blockchain evaluation index consisting of 35 different cryptocurrencies. EOS is ranking No. 1 on the list as it has been doing since June of last year. TRON moved up one spot compared to the latest issue to be positioned second on the rakings pushing Ethereum to the third position. Notably, Lisk moved up considerably to the seventh position while bitcoin remains in the 11th spot as it prepares for a potentially significant price movement.

CCID’s Global Blockchain Technology Assesment Index | Source: CCID

Due to “a dynamic adjustment mechanism [that] was introduced to regulate the general public chain whose code replace fee is just too low,” the institute decided to remove XEM from the index.

Additionally, the CCID eliminated GXChain from the publication for the same reasons. GXC ranked in the 9th position in the previous edition of the Global Blockchain Technology Assesment Index. The move comes after the Gushu Police Department opened an investigation against the firm for allegedly harvesting data from its more than 2 million verified users.

As China prepares to launch its own national cryptocurrency, the CCID continues to provide the public with this index. According to CCID:

“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.”

This article was edited by Samburaj Das.

Posted in: Cryptocurrency News
Show comments