The second monthly rating of cryptocurrencies by the Chinese government is out, ranking EOS as the best followed by Ethereum, NEO, Stellar and Lisk. Bitcoin which was ranked 13th last month dropped to 17th this month.
It is quite ironical that EOS is first, considering the latest mishaps during its main-net launch besides not having a long enough timeline of its operation to gauge its utility as the best blockchain.
The monthly rating is known as “Global Public Chain Technology Evaluation Index” and is a Chinese government initiative launched by Center for Information Industry Development (CCID) of the Ministry of Industry and Information Technology. The basis for calculating the ratings is a mystery, though the agency responsible for giving out the rating has mentioned that it is predominantly based on technological capability, usefulness, and innovation.
The first rating was launched in May 2018, and the purpose of the initiative was to make Chinese public aware of investible blockchain assets given the recent bout of frauds happening in the ICO market.