For the second month in a row, EOS remains at the top of a monthly list of 31 cryptocurrency projects by the Chinese Center for Information Industry Development (CCID). Bitcoin has improved its ranking from 17 to 16, still below its May rating of 13. Bitcoin Cash moved from 28 to 25 place. NEM remains at the bottom of the list.
The CCID originally began releasing monthly crypto rankings in May of this year with a list of 28 projects. EOS and Nebulas were added to the list in June; GxChain was added this month (in 4th place, no less) bringing the total to 31.
Ratings Are Given Based Off of Innovation, Technology, and Application
The China Electronics News Agency (CENA) explained that CCID’s rankings are based on “comprehensive investigation and evaluation of the public chain from three aspects: basic technology, application and innovation.” CENA is the Ministry of Industry and Information Technology’s media agency.
4/ Detailed scores of the first crypto ratings by CCID Research, China’s Ministry of Industry & Information Technology pic.twitter.com/7LiJIWokge
— cnLedger [Not giving away ETH] (@cnLedger) May 17, 2018
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According to CENA, “The application [criteria] mainly examines the comprehensive ability of the public chain to support practical applications.” This includes capabilities for dapp development support and node deployment; Ethereum was the CCID’s top pick for this particular criteria and was at the top overall of the May list of rankings.
Bitcoin ranked first in terms of the innovation criteria, which “focuses on continuous innovation in public chain open source code, including the number of contributors, code updates, and code impact.”
— cnLedger [Not giving away ETH] (@cnLedger) May 12, 2018
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. “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,” he tweeted in May.
However, Zhao believes that the ratings may be “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.”
The ratings have also been compared to the controversial Weiss crypto ratings that were originally published earlier this year.