According to the Chinese government, Ethereum is the best Blockchain network in the world

China's Ministry of Industry and Information Technologies is estimated to have evaluated Blockchain and cryptocurrencies on May 17, 2018.

Ethereum is number 1 while Bitcoin is in 13th position

A website report from the Chinese Ministry of Industry and Information Technology reported on the Asian superpower . 28 cryptocurrencies were classified and evaluated according to three criteria, including technology, application and innovation. Under the supervision of the China Electronic Industry Information Development Department (CCID), the project was completed and announced on May 11 during the Beijing Conference.

The ranking was quite disappointing for the Bitcoin community. The first cryptocurrency in terms of market capitalization is relegated to 13th place in the ranking of the best crypto-currencies in the world.

According to the hierarchy in the Chinese index, the 28 crypto-currencies are: Ethereum, Steem, Lisk, NEO, Komodo, Stellar, Cardano, IOTA, Monero, Stratis, Qtum, BitShares, Bitcoin, Verge, Waves, Ethere Classic , Reverb Chain, Dash, Cloud Storage Chain, Bitcoin Cash, Litecoin, Ark, Big Zero, Nano, BitCash, Decred, Super Cash and New Chain.

 

The rating agency, Weiss Ratings, gave a C + rating to Bitcoin last January. He changed his mind sometime later with a B-. Chinese organizations also seem unconvincing with regard to highly volatile crypto-currencies, unlike Ethereum, which was awarded the B + rating.

The legitimacy of the ranking is questioned

Doubts about the work of the ministry have been raised by some, including Eric Zhao. The engineer from the Chinese Academy of Sciences and the owner of the famous Twitter account CnLedger said:

Most old-school experts have not looked enough at cryptocurrencies to understand the intrinsic nature of technology and community, which can not be found elsewhere.

He added, "This is a good sign, Chinese officials are starting to invest in cryptocurrency as a neutral, technology-oriented and innovation-driven company, rather than challenging power and authority. banks and the government. "