China Development announces EOS as the number one cryptocurrency

The Blockchain Research Institute division at the China Electronic Information Industry Development (CCID) has released an evaluation of various different blockchain networks and it has come as a surprise to users that EOS – and not Bitcoin – has bagged the number one spot.

It might be even more startling to see that EOS has taken the top spot, owing to the issues that arose almost immediately after the project launched its blockchain mainnet, branching off from the Ethereum network.

This is the second evaluation the institute has released since the Evaluation Index was launched by the CCID in May and the result places EOS as the top-valued, with Ethereum in second with NEO taking third place.

In the assessment, the research team awarded EOS with 102 points for its fundamental technology, 15.4 for applicability and 44.1 for innovation. Ethereum scored 85.2 on its fundamental technology but achieved a higher result of 24.9 for applicability. Bitcoin, which is the largest cryptocurrency by market cap and the most well-known globally, placed in thirteenth place in the first evaluation and has dropped by four places in the most recent result. The original cryptocurrency received a low 41.6 for its fundamental technology but managed to pull a higher 35 score for innovation.

According to the index, the purpose of the evaluation is to “evaluate the development level of global public-owned chain technology, accurately grasp the trend of blockchain” and it is looking to see the value of the 30 most prominent blockchains, with focus on what the networks are capable of doing regarding technology and discards any financial factors.

According to the team, EOS succeeded because “of its potential to support commercial distributed applications,” and “is considered by the industry to be a typical representative of Blockchain 3.0.”