That China isn’t a fan of cryptocurrencies should not come as a surprise to anyone. However, when it comes to the blockchain ecosystem, China has adapted to the technology really well and has been coming out with a number of blockchain-based innovations. The country even has a list of their own blockchain rankings, known as Global Public Blockchain Technology Assessment Index. In their latest list, which came out earlier this week, Bitcoin is ranked at #19 - the lowest position the currency has fallen to yet.
Bitcoin has been witnessing a gradual fall over the past few months in China’s ranking system. In August, Bitcoin had been placed at #10 in the list. In September, it fell to #16 - and in October, it has dropped even lower to no. 19 on the rankings. This is the sixth such monthly list coming from the country, as China began these lists in May 2018. EOS continues to maintain the top spot in the list.
In this 6th Global Public Blockchain Technology Assessment Index, China has placed EOS as the top ranked blockchain platform, followed by Ethereum at #2. At the third position is BitShares, followed by Nebulas, NEO, Steem, Ripple, GXChain, NULS, Komodo, Lisk, Stellar, Ark, IOTA, Waves, Stratis, Qtum, Cardano - and then Bitcoin at no. 19.
Bitcoin ranks slightly above the likes of Verge, Monero, Ethereum Classic, NANO, Tezos and ZCash. A total of 33 currencies are featured on this index. This monthly list of blockchain rankings is released by the China Electronic Information Industry Development (CCID), a government organization in China. These rankings are based upon three major factors: Basic Technology, Applicability and Creativity.
While Bitcoin doesn’t rank so well when it comes to basic technology and applicability, the currency boasts of the highest score when it comes to the creativity aspect. While Bitcoin stands in at no. 19 on this index, Bitcoin’s forked version Bitcoin Cash also finds a place but much lower down the order at no. 31. Given that a major fork for the Bitcoin Cash network is approaching on the 15th of November, it would be interesting to see if the seventh such index sees Bitcoin Cash soaring in the list.
EOS and Ethereum are currently the most favoured blockchain platforms in China, particularly when it comes to the development of decentralized applications. The CCID report which this index is a part of commented (translated):
“At present, EOS and Ethereum are undoubtedly the preferred platforms for Dapp development worldwide, and EOS is showing a stronger momentum. The data shows that EOS Dapp is highly active and user increments are large.”
Interestingly, in this sixth index, Ripple has also entered the list of the top 10 blockchain platforms. One of the biggest reasons for Ripple’s better performance on this Chinese index this month is possibly because of the xRapid system having launched earlier in October. Nuls has also performed well - a China-based blockchain network which has been tapping the US markets of late.
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