China Officially Issues Cryptocurrency Rankings: Ethereum Bags First Place

[mskumar]

China publically issued the world’s first government-issued blockchain and cryptocurrency ratings on May 17, 2018. The development is the first in a series of steps planned by Beijing to regulate the burgeoning digital asset class.

Ethereum at Number One, Bitcoin at Number 13
According to a report on a website owned by China’s Ministry of Industry and IT, the Asian superpower analyzed and issued public ratings on 28 cryptocurrencies, based on three factors: underlying technology, protocol creativity, and application.

The results show that the smart contract platform Ethereum is ranked as the number one cryptocurrency, with its technology assessment index garnering a total rating of 129.4.

The ministry placed Bitcoin at rank 13, giving it a low 39.4 rating for its technology, and 13.1 for application. Regardless of the low score, the pioneer cryptocurrency enjoyed the highest “creative” index, and this is due to the fact that bitcoin is responsible for starting it all (blockchain and decentralized movement), and being the first one to do so.

Despite releasing ratings, there is no clarity on the rating criteria and methodology. How the agency come up with the numbers is anyone’s guess. The announcement follows the establishment of national guidelines for blockchain technology, expected to be finalized by the end of 2019 according to state-run Economic Information Daily.
SOURCE:https://btcmanager.com/china-officially-issues-cryptocurrency-rankings-ethereum-bags-first-place/