Amid Bear Market, EOS Remains Number One In China’s CCID List

EOS has had a tough few months just like every other cryptocurrency in the market. As the price of BTC fell, EOS fell as well. The market crash was so significant that many believed this was the end of the road for cryptocurrencies. Even as the value of EOS declined, it remained the prized cryptocurrency of China. This is why, yesterday, in a Global Public Blockchain Technology Assessment Index Report that was published by the Ministry of Justice in China, EOS was rated as the best cryptocurrency in the world. The altcoin didn’t just take first place but it took the position with flying colors making it difficult for any other cryptocurrency to take that position for now.


EOS: The Prize Of China


The press release by the group showed that EOS scored 157.1 points. Even if EOS has occupied the first position for a while now, the score improved significantly this months. While the method used to determine the score wasn’t fully explained, the final score evaluated the potential of each cryptocurrency as it applies to technological development and use cases in everyday life.

EOS Price Today – EOS / USD
NamePrice
eos
EOS
$2.930.917%

Bitcoin was ranked 18th while Ethereum was second as it has always been. Part of the report stated:
“EOS came first on the list accumulating a total score of 156.1 points. With 136.4 points, Ethereum came second. Both indexes are still taking the lead at the top as they always have. BitShare was replaced by GXchain in third place scoring 117.5 points. BitShare, which occupied the third position last year, fell to the eight position. BTC scored 96.1 maintaining its position in the middle of the list.”
Apart from evaluating the coin with the highest potential, the ranking was also done to evaluate the cryptocurrency with the most popular consensus algorithm. The results showed that blockchains that use delegated Proof-of-Stake are the most popular. Six out of the top ten use this algorithm.

Apart from the result from the general study, there were some interesting facts about all the cryptocurrencies tested. The conclusion was that even if a blockchain can be good in one aspect or the other, nothing is perfect and no blockchain is successful in everything at the same time. While it may thrive in one area, it might have a shortcoming in another area. However, on a general note, EOS was considered the best blockchain that is currently in existence.

In terms of application, Ethereum came first. It was followed by NEO, Ontology, Nebulas and Qtum. In terms of technology, EOS came first and was followed by BitShare, Steem, GXChain, and Ontology. In terms of innovation, Bitcoin came first and was followed by EOS, Ethereum, and Komodo.


EOS (EOS) Price Analysis


Even if the CCID believes EOS is the best cryptocurrency at the moment, this hasn’t stopped the price of EOS from falling. The bear market hit the cryptocurrency strong as it did with other cryptocurrencies. Some EOS block producers are at risk of becoming bankrupt. There is a lot of pressure in the EOS community.

Right now, EOS is trading at $2.74. This shows that it is up by 7.62% against the USD and up by 3.53% against BTC. The trading volume over a 24 hour period is $958,335,971 and the market capitalization is $2,484,449,220.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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