EOS Tops Revised Chinese List Of Top Cryptocurrencies

Matt Jackson

June 25, 2018

Despite being omitted from the original list, published last month, EOS tops the most recent list, produced by the Chinese government, of the best cryptocurrencies. EOS and Nebulas were missed off the original list, but now make the revised edition. A spokesperson said that the ranking algorithms had been changed a little, which not only saw the introduction of the two coins, but also saw some minor changes in ranking for some major cryptocurrencies. Bitcoin slipped from 13th to 17th in the list while Bitcoin Cash fell from 25th to 28th in the list.

Cryptocurrencies Ranked

The launch of the initial list came as a shock, as the Chinese government administered a blanket ban on all cryptocurrency and coins. Despite the ban, China was the first country to launch an official ranking list of digital currencies. The list ranked crypto according to innovation, technology, and application. Ethereum was ranked at number 1 with Bitcoin in 13th spot. There were some raised eyebrows as Bitcoin Core didn’t make the top 10 and Bitcoin Cash barely made the list of 28 at all.

The latest publication is the second monthly updated list. EOS topped the list this time around, again raising eyebrows, as the technology has been blighted by downtime and bugs since its mainnet launch at the beginning of the month. EOS introduction means that Ethereum dropped to second place.

Algorithm Tweaks

Although there were some minor tweaks to the actual ranking algorithms used, the same basic premise of the ranking remained the same, and every cryptocurrency on the list was ranked according to its innovation, technology, and application.

EOS Leads The Pack

China’s Center for Information Industry Development (CCID) said that EOS, despite only being live for a couple of weeks, scored a combined total of 161.5 in its ranking. Second placed Ethereum only achieved 138.4. In contrast, Bitcoin, which only managed to rank 17th this time around, scored 91.5.

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