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The Chinese government has just released its second series of cryptocurrency rankings with two new projects listed and a reshuffle in the order that does not really add up.
Evaluations are based on three main sets of criteria; the basic level of technology displayed, the utility of the application and the project's innovation capacity. The country's Information Industry Development Center (CCID), under the supervision of the Ministry of Industry and Information Technology, has updated its ranking for the second month.
The Chinese technology evaluation index of the global public channel has been officially released five days at Shanghai Science Hall. Adding to the original 28 crypto projects this time was EOS and Nebulas. EOS went straight to the top, pushing Ethereum to second place. This decision is surprising given the controversy, centralization issues, and technical issues that hindered its launch. EOS experienced yesterday one of the biggest market successes by losing more than 30% on the week at its lowest price in nearly 3 months, just over $ 7.
The explanation of the high consideration of the CCID for EOS is the following:
"The main network of EOS went into service on June 10. Although there was an accident like a short-term suspension, it was very active in technological innovation and speed of Software update was still one of the most recent public channels concerned with the industry.
The working group on the evaluation of CCID's public channel technology also changed its evaluation structure for the second round of rankings;
"The evaluation model of the second phase has been optimized compared to the first phase.The security evaluation algorithm has been improved and the evaluation indicator for facilitate the deployment of nodes of the public channel has been added. "
The typical factors often used to classify cryptocurrencies such as total supply, market capitalization and volume of trade are not taken into account in this assessment. The charts are therefore not representative of current market conditions or sentiment.
Bitcoin slid down the list of 13th at 17th despite having recovered 4.6% of its lowest yesterday and be the godfather of all other cryptos. The Chinese favorite Neo has risen to a place in third place but he has been beaten on the markets by losing 64% since the beginning of May. Neo is currently at its lowest level since mid-November, showing little signs of recovery and languishing around $ 31. Ripple climbed 17th at 9th place indicating that centralization issues are also not part of the ranking criteria.
In the grand scheme of things, is a list of rankings of a country that has made every effort to cancel crypto trading and mining is worth the paper on which it has been typed?
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