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. According to cena.com, they will help the public and governments alike to understand the status of cryptocurrencies, track the progress of different cryptocurrencies, and promote innovation and applications of blockchain technology.
The index was created by the China Information Industry Development Center, part of the Ministry of Industry and Information Technology in Beijing.
The ethereum, whose currency is called ether, had an index of 129.4. The platform unfamiliar to most is Komodo, and it is now the 58th largest cryptocurrency by market cap. Surprisingly, Ethereum claimed top spot while XEM ranked lowest of all in a list that significantly varies from what crypto investors perceive.
He added, "I believe at least it's a sign that the officials are starting to treat crypto projects more like a neutral endeavour towards better technology and innovations, rather than just challenging the power and authority of banks and government".
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.
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. China was the most active filer of blockchain patent applications in 2017, according to Reuters, despite the government cracking down on illegal initial coin offerings.
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