China’s Center for Information and Industry Development has also been a fan of EOS. In the last crypto ratings it published, EOS was number one. In its most recent cryptocurrency rating, EOS is still number one. Also, its ratings for Ethereum and Tron improved. This shows that the CCID prefers smart contract platforms to regular cryptocurrency platforms like Bitcoin or payment protocols like XRP.
Crypto Ratings: China Center for Information and Industry Development Prefers Smart Contract Platforms
The crypto ratings by the CCID is sponsored by the Chinese government. It ranks cryptocurrencies in the world based on several variables like creativity, basic technology, and network performance. EOS, Tron, and Ethereum occupied the first second and this positions this year. What does this say about the smart contract space? Well, as far as China is concerned, blockchains that offer multiple use cases including smart contracts, are better than blockchains with limited use cases that are only efficient in the payment sector.
EOS Price Today – EOS / USD
On the list, Bitcoin, the largest cryptocurrency per market capitalization took the 15th position. XRP took the 18th position while TRX took the 32nd position. While the rest of the world ranks cryptocurrencies based on their market capitalization, the Chinese government believes that market capitalization alone isn’t sufficient when it comes to determining the intrinsic value of a cryptocurrency. They are focused on blockchain systems that have good use cases.
Blockchain Technology Isn’t Cryptocurrency
More than any other country, China has made it clear that blockchain technology isn’t cryptocurrency. The country is interested in the benefits of blockchain and is encouraging its companies to invest in blockchain technology. At the same time, it has placed a strict ban on the domestic trading of cryptocurrencies.
EOS Price Today – EOS / USD
Two days ago, a warning was issued by the Beijing Internet Finance Industry Association. The warning was about initially coin offerings (ICO), digital currencies, initial exchange offerings (IEO), and everything related to them. The association stated that these offerings are not directly related to blockchain technology. Part of it was as follows;
“They are not really based on blockchain technology, but take the opportunity to speculate on the concept of blockchain, which seriously disrupts the normal financial and economic order and brings social risks.”
EOS, Ethereum, and Tron offer the same features to users. Ethereum has the highest market capitalization among the three and is widely recognized as the world’s foremost decentralized computer. Tron has also made significant progress recently even if EOS is still leading per market capitalization. For some reasons, however, China has a special interest in EOS. This shows that the EOS blockchain has underrated potential.
What do you think drives the CCID into listing EOS as number one in its crypto ratings every year? Feel free to comment below.