Ethereum Named Best Blockchain in New China Index

The Chinese government launches monthly Global Public Chain Assessment Index.

by Kyzmoff
18 May • 1.5 min
In Coins
Ethereum has landed the top spot as public blockchain in the cryptocurrency sphere, leaving main rival Bitcoin way behind at 13th in the newly launched monthly Global Public Chain Assessment Index by the Chinese government.

Ethereum, whose currency is called Ether (ETC), gained an overall 129.4 points. Its protocol is the foundation for many initial coin offerings (ICO) that enables start-ups to raise funding by offering their own digital currencies to investors.

China, which banned domestic ICOs and restricted access to cryptocurrency trading, is now ironically the first country to make a move into analyzing and monitoring cryptocurrencies. The index was drafted by the China Center for Information Industry Development (CCIID), part of the Ministry of Industry and Information Technology. It evaluates the technological capability, applicational usefulness, and innovativeness of blockchain projects. Currently the monthly updated index has 28 blockchain projects with their corresponding cryptocurrencies.

CCIID announced the initiative last Friday pointing out the lack of independent analysis of crypto and blockchain as a guide for governments, enterprises, and research institutes around the world.
According to the report, "The Styme chain that utilizes the blockchain graphene architecture has the highest score in the basic technical indicators. The NEO whose goal is to use smart contracts to automate the management of digital assets is ranked first in application assessment. The first place in the innovation power index is Bitcoin, which pioneered the application of blockchain technology."


The remaining blockchains in the ranking are as follows 16th to 20th - Ethereum Classic, Ripple, Dash, Sia, Bytecoin; 21st to 25th - Litecoin, Ark, Zerocoin, Nano, Bitcoin Cash and from 26th to 28th - Decred, Hshare, NEM.