Ethereum tops China's blockchain rating system

17 May, 2018
by Salahuddin Uqaili
News
Ethereum tops China's blockchain rating system

Ethereum has topped the blockchain ratings table created by the China Center for Information Industry Development (CCID) of the Ministry of Industry and Information Technology. China had announced the creation of a ratings system for 28 blockchain projects last week.

The next most promising cryptocurrencies according to the CCID were Steem and Lisk. The decision was based on an analysis of each cryptocurrency’s ‘Technology’, ‘Application’ and ‘Innovation’.

Bitcoin came 13th on the list, due to its poor showing in the Technology sub-index. It scored 39.4/100 as opposed to Ethereum which scored 80.3/100 in that sub-index. This may be due to Bitcoin’s focus on creating a decentralised currency rather than creating other applications on it’s blockchain. Ethereum was founded with the purpose of taking advantage of blockchain technology to create new online products and services, such as creating smart contracts.

Bitcoin did score relatively high in the innovation sub-index with 35.6/100 points. Ethereum scored lower with 25.4/100 points. Bitcoin is arguably the most innovative cryptocurrency in existence as it was the first one created- and first demonstrated the blockchain technology on which all subsequent cryptocurrencies have been based. 

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Read more about: Ethereum (ETH)

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