Whilst the future for cryptocurrency in China is uncertain, there are still plenty of research authorities working in the country that are designed to explore and interpret cryptocurrencies. Within this, one such authority, the Chinese Centre for Information Industry Development (CCID) has released a number of rankings for cryptocurrencies from May this year, with the most recent update to the ranking taking place this week.
Famously, EOS has topped this ranking previously and based on the new update, still reigns.
The rankings established by the CCID are based on in depth research into the technology behind the project, potential applications for the project and the innovation behind the project. Therefore, this is based on more than just investment and actually explores each cryptocurrency as a business, with a business model.
According to their latest release, the CCID top five crypto projects are:
Bitcoin sits in 16th place, IOTA in 14th place and Ripple in 13th place.
You can see the full CCID rankings for yourself, here.
Please note, this page may require translation.
According to Finance Magnates, the new released by the CCID has however faced some criticism:
“The ratings have been the target of some online criticism. Eric Zhao, the man behind the @cnLedger Twitter account (which boasts more than 75.3k followers) said that the ratings were assigned by people who don’t understand blockchain.”
According to Zhao:
“Most old-school experts haven’t followed the crypto space long enough to grasp some of the traits of tech and community that can’t be found elsewhere. A sign that the officials are starting to treat crypto projects more like a neutral endeavour towards better technology and innovations, rather than just challenging the power and authority of banks and government.”
See more for yourself, here.
EOS seems to be experiencing a bit of a surge off the back of this news. At the time of writing, EOS is valued at $8.47, up 4.51%. Indeed, EOS is way off its potential value of $20.00 + however, this current trajectory does set EOS in the right direction for regaining its status as a double figure cryptocurrency. Hopefully, through August it can follow the path of a very healthy Bitcoin and rack up some positive value over the next few weeks.
Finally, a last word should go out to block.one, the team behind the EOS project. Impressing the CCID for yet another month is an impressive feat, one that they are no doubt feeling pretty smug about right now.