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China Ranks Ethereum on Top as the World’s Best Public Blockchain Network, Bitcoin on 13th Spot

May 17, 2018 18:05
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After announcing to come out with the ratings of public Blockchain projects and Cryptocurrencies, China’s Ministry of Industry and Information Technology today published the first list of rating of 28 crypto assets based on three specific criteria Technology, Application, and innovation.

The rating charts published on Twitter by the Chinese government agency has ranked Ethereum on the top as the world’s best public blockchain network followed by Steem, Lisk, NEO and Komodo, all in the top five. All the top five cryptocurrencies utilize smart contracts to efficiently and securely process information in a decentralized manner.


Incidentally, Bitcoin has been ranked 13th in the list, sharing the spot with privacy-focussed cryptocurrency Verge. Understandably, the Bitcoin community is outraged by the ranking as Bitcoin has the longest track record of being most secure and dominant cryptocurrency in the global market. Another surprise inclusion to the list is Monero which is ranked at 9th position and given that several governments and regulatory authorities have raised concerns toward Monero and ZCash as it could be involved in money laundering and financial frauds.

Other popular cryptocurrencies that failed to impress the Chinese authorities are Bitcoin Cash which secured 25th place, Litecoin 21st, Bytecoin 20th, Dash Coin 18th, Ripple 17th and Bitcoin Cash 16th.

Since the announcement by Chinese authorities to rank cryptocurrencies, many in the cryptocurrency community believed that they would rank the private blockchain projects on top which can assist the government in surveillance or monitoring transactions at the top. But the today’s rankings demonstrated the government’s intent to remain objective in the whole process.

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