China's new Crypto rankings have pushed Bitcoin to 11th spot

China’s Center for Information and Industry Development (CCID) has just published the 14th issue of its blockchain evaluation index. The evaluation ranks various popular blockchain projects after assessing different aspects, such as applicability, underlying technology, innovation, and alike.

The country’s rankings were always quite appreciated, as they show what it is that China values in projects, as well as which projects might have a chance of being accepted in the country.

Furthermore, the report comes only days after China’s President, Xi Jinping, publicly praised blockchain technology. He also announced plans to embrace it in the future.

As mentioned, this was the 14th issue of the blockchain evaluation index. The first issue was published only last year, on May 17th, 2018. Back then, Ethereum was the top-ranking project, with a total score of 129.4. The same report has placed Bitcoin to the 13th spot on the list.

1/ Public blockchain ratings by China's ministry is out: #Ethereum ranks top of the 28 cryptos evaluated
Source (in Chinese): https://t.co/9jStIiFKcc

— cnLedger (@cnLedger) May 17, 2018

A year and a half had passed since the original report, and the 14th issue brings quite a few changes. The evaluation index now consists of 35 cryptocurrencies, and this time, EOS has scored the highest score of 151.8, ranking as the No. 1 project. Meanwhile, the second place went to TRON, with a total score of 141.0. Ethereum, the second-largest coin by market cap, ranks as third on China’s list, with a total score of 135.8.

While these results differ from the original report, they do share a lot of similarities with the report from June 2018, when EOS first took the top spot on the list.

Another important change is the performance of Lisk, which moved to the seventh position, while Bitcoin still remains outside the top 10 list, currently occupying the 11th position. While it remains the world’s largest cryptocurrency, BTC is not nearly the best one, according to China, which gave it a total index score of 103.2.

Another noticeable change is the removal of XEM and GXC from the publication. XEM was allegedly removed due to the dynamic adjustment mechanism, which was introduced to regulate the public chain. The reason for the removal of GXChain is likely the investigation based on suspicion that the firm is illegally harvesting user data, even though the project previously ranked as 9th.

BREAKING

Another high profile 2017 ICO project GXChain $GXC just got clamped down by the Chinese police

😱😱😱

GXChain was a very hot ICO back in the days with ATH market cap over $600M (even now still holds $48M) and considered to be among the very few legit ICOs … pic.twitter.com/6uUPBx8og9

— Dovey "Rug the fiat" Wan (hiring) (@DoveyWan) September 11, 2019

Meanwhile, China continues with plans to launch its own, national cryptocurrency, and these results give valuable insight into what the country’s upcoming coin might be like.