August’s blockchain ratings have been released in China. These ratings rank public Blockchain networks with regards to technology and application.
EOS Ranks First, Again
The rankings were conducted by some of the most brilliant minds in China, including professors and researchers from the most distinguished institutions in the country. They were designed by both the China Software Testing Center and China Electronic Information Industry Development Research Institute which are financially backed by the government.
Previous rankings had EOS as the top Blockchain network, beating both Ethereum and Bitcoin. These new rankings conducted by both the CCID and CSTC had EOS still dominating the list as the world’s best Blockchain network. Ethereum came in at second place with Bitcoin being ranked at the tenth place on the list, with digital coins like NEO and Stellar placed ahead of the commanding digital coin.
Blockchain networks like NEO, Nebulas, Steem, Komodo, Stellar and GXChain received better rankings than that of Bitcoin mainly in the categories based on the applicability of the network and the technology used in the network. Bitcoin was ranked higher in the innovation category, possibly because of how long it’s been around as well as its standing as the original Blockchain network and digital coin in the crypto sphere.
Bitcoin Rises Through The Ranks
Last month Bitcoin was ranked, by CCID, seventeenth on the list of the top Blockchain networks in the cryptocurrency market therefore with these recent rankings, Bitcoin seems to be gaining momentum.
Major cryptocurrencies have not seen any technological advancements mainly when it comes to the codebase on which they are based on, which might be an indication that BTC’s performance as a value store may have influenced Bitcoin’s rise through the rankings.
With the main criteria being taken into consideration by CCID being technology and applicability, it appears that smart protocols, as well as networks developed for supporting applications that are decentralized, will always carry the day in these rankings. By applicability, CCID was ranking the networks according to how well they can be applied in other systems while by the technology they were ranked by how scalable the Blockchain network was as well as its overall capacity.
Going by these criteria, it would seem that the PoS (Proof of Stake) algorithm in EOS might have played a significant role for it to have been ranked at the top of the other Blockchain networks. This PoS allows the network to process more transactions than any other Blockchain network. This, however, can’t have been the only reason seeing as the second largest PoS Cardano was ranked at 15th place in the list.
Ranking By Properties
Going by the criteria through which the Blockchain networks were being ranked by i.e. application and technology, it would seem logical that EOS Ethereum and Stellar would be placed higher than Bitcoin because they are high performance.
Nebulas position in the list seems to be largely due to its dApps and the rate of speed of its transactions i.e. 35,000. However, the track record of the Blockchain networks also plays an important role in the rankings.