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Bitcoin rises in the ranking of China’s crypto-currencies

For some time now, we have known that China has been pushing all kinds of cryptomoney and Blockchain projects. But, this interest became even more evident when the China Center for Information and Industrial Development (CCID) said that Bitcoin Cycle was now more popular than before in its ranking of crypto currencies.

Specifically, this is the 18th update of this institution’s rankings of cryptomoney projects. Please note that the China Information and Industrial Development Center (CCID) operates under the Ministry of Industry and Information Technology of China.

This report is called „18th Index of Public Blockchain Technology Assessment of CCID“, in case anyone is interested in reading it in detail.

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What is evaluated in this ranking of the China Information and Industrial Development Center?
The CCID evaluates so far 37 cryptcoin projects in general and in three subcategories. These subcategories are: basic technology, applicability and creativity.

This is when they announced that Bitcoin has moved up some positions in this classification, while the first three places remained occupied by EOS, Tron and Ethereum. The previous ranking was made in April, when it was affected by the coronavirus pandemic.

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How does Bitcoin fit into this classification of China’s CCID?
In the 18th ranking, BTC improved slightly from April’s report, going from 14th to 12th. But it’s still not in the top 10.

Meanwhile, BCH dropped slightly from position 31 to position 34. As mentioned earlier, EOS, Tron and ETH continue to lead the overall ranking.

The methodology used by CCID is to take into account several sub-indices: the basic technology sub-indice represents 65% of the total score. The innovation sub-index represents 20% of the total, while the creativity sub-index represents 15%.

Regarding the frequency of this report, the CCID has mentioned that this classification is made every two months by the CCID (Qingdao) Blockchain Research Institute, an entity established by the CCID. In addition, they have the support of the China Software Evaluation Center.