The bears in the cryptocurrency markets are still marauding wildly causing significant plunges in most major cryptocurrencies’ prices. While most of the digital currencies are trying to recover, China ranks the cryptos differently compared to other world markets. The Center for Information and Industry Development [CCID] published the tenth update of its crypto project ranking on February 26.
This time, 35 projects featured with some interesting things to mention. CCID, under the purview of China’s Ministry of Industry and Information Technology, confirmed that it is 2019’s second update. The only addition from the last evaluation is Tron that now sits on the second position. It is positive news for TRX that has been expanding significantly in the crypto market for over a year now.
Currently, EOS takes the first position while Ethereum drops to third. Bitcoin has improved in the rankings taking the 13th position on that list up from 15th. Bitcoin Cash [BCH] also climbed one step from 28th to 27th since the last evaluation.
EOS still rules in this CCID ranking. It garnered a score of 150.5, 4.9 points more than Tron. According to that ranking, EOS outperforms Tron in the “basic-tech” category and “creativity.” On the other hand, Tron performs better in “applicability” than EOS.
The Tron Foundation is striving to enhance the BitTorrent Network. In that context, they have released the BitTorrent Token (BTT). According to that publication, the CCID described Tron as:
“A low-level public chain with high throughput, high expansion, and high reliability. It is compatible with the Ethereum smart contract.”
CCID also stated that Tron has over 200 Dapps and its chain transactions are more active currently. Furthermore, the center said that the current evaluation took into account three primary indicators. These indicators include applicability, basic technology, and creativity. But, the weight of the creativity indicator has increased considerably for the current evaluation.
Tron’s long-term strategy may also have propelled it high up to the second position in the rankings. As we said earlier, Tron has created 990 billion BTT Tokens on its blockchain network. 10.1% of the BTT tokens are assigned for airdrops to the current TRX holders over the next six years.
Furthermore, the monthly airdrop will continue growing bigger with every passing year. That looks like an excellent rewarding tactic from Tron for its long-term investors.
The latest rankings put Ethereum at the third position. That shows that the three first spots are currently occupied exclusively by unique blockchain networks. These networks let interested developers run decentralized applications (dApps) or create smart contracts. Tron appeared for the first time and surpassed Ethereum in the ranking. However, Ethereum exceeds Tron and EOS in “applicability” and “creativity.”
The Dismal Performers
Although there are some high-fliers in the CCID list, some major cryptos with regards to market capitalization ranked quite low. Bitcoin, the largest token, could only manage a 13th place. Public blockchain digital currency relies significantly on the decision of third parties to solve the challenge of ranking.
Regarding this, Bitcoin gradually became a less attractive payment tool compared to its competitors whose transactions are confirmed much faster. As we published earlier, China crashed Bitcoin last year in the CCID ranking but BTC seems to be recovering steadily.
Another major crypto that is performing worse than Bitcoin in the rankings is Litecoin (LTC). The fifth largest virtual currency in the market has the lowest score in basic technology sector. With regards to applicability, it ranked at position 34 but it was the best in creativity.