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May 17, 2018

China’s Ministry of Industry and Information Technology research unit (CCID) has released its cryptocurrency grades placing Ethereum (ETH/USD) at the top of the list, with Bitcoin (Bitcoin) listed in the 13th slot according to the local media outlet CENA which revealed this chart today.

China Ranks Ethereum Far Above Bitcoin

China announced its rating plans during a Beijing conference on May 11. For scoring criteria, CCID took three indexes: “technology”, “application” and “innovation”. Listing 28 cryptocurrencies, the rating is opened by Ethereum, with second place taken by Steem, a crypto token issued by the social network Steemit. Lisk, NEO (NEO/USD) and Komodo also made the list. Litecoin (LTC/USD) stands in the 21st slot, four places ahead of Bitcoin Cash (Bitcoin.Cash). Ethereum Classic (ETC/USD) is listed 16th, followed by Ripple (DASH/USD) and Dash (DASH/USD), while Bytecoin achieved the 20th ranking.

China is looking to expand this rating system and include public blockchain projects with more crypto assets.

The announcement of the rating regime follows the establishment of a national standard for blockchain by China, and the guidelines will be ready by the end of 2019 covering the basics, business application and security.

By Nadya Astam

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