Bitcoin Places 11th In Chinese Monthly Crypto Innovation and Technology Ranking, EOS Remains #1

Bitcoin Places 11th In Chinese Monthly Crypto Innovation and Technology Ranking, EOS Remains #1

Bitcoin is certainly the most important and beloved cryptocurrency in the United States, but can we say the same about China? Probably not, according to a new ranking published by the CCID Research Institute, a Chinese institution which ranks cryptocurrencies each month.

In its latest ranking, which was published today, July 31, the institution decided to put Bitcoin in the 11th place in terms of technology and innovation among all the 37 tokens listed.

The ranking is part of an initiative created by the Chinese Ministry of Industry and Information Technology. Every month, a ranking is made to show which are the most innovative and important cryptos in the market.

All the 37 tokens are evaluated and some of their characteristics are taken into account and compared. The main points are innovation, technology and applicability. Using this, a total value index is created and the tokens are compared.

Bitcoin was only able to score 103 points using this system. Despite the bad ranking, the token is still 4 places up from where it was before.

The report does not bash BTC, however. It sees as slowly gathering some mainstream audience and being a unique investment with some relevant characteristics that make it very interesting.

EOS Is The Crypto King In China

Curiously, a token that is not really so popular in the U. S. has ranked first: EOS. The project was able to overcome all of its competitors by scoring a total of 153.1 points. Mimicking its market cap, Ethereum (ETH) was ranked in second with 148.6 points. Not a bad score.

Tron (TRX), created by the Chinese entrepreneur Justin Sun, was able to get the third place while NULS and GXchain ranked fourth and fifth.

This is a considerably different rank than we would see in the West. Several tokens which are not very popular are ranking well against the most famous crypto and several relevant tokens are not ranking so well, too.

Despite ranking well almost every month in the CCID’s rankings, EOS is often not so praised outside this circle. The token, which has a strong community, is often criticized by lacking decentralization and for being able to reverse transactions, something that is considered a huge sin in most of the crypto world.

In any case, it is very interesting to see the main differences between what is important to Western and Chinese audiences and see the stark contrast between these opinions.

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Author: Gabriel Machado