China ministry releases latest evaluation of crypto projects

Updated May 5, 2020 | Published Apr 16, 2020
[3 mins read]
Despite a mixed approach towards crypto gambling, China continues to keep a close eye on crypto projects with the 17th CCID report unveiled.
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According to the China Ministry of Industry and Information Technology (CCID), blockchain’s EOS, TRON and Ethereum continue to lead the way, while Bitcoin’s ranking has collapsed to 14th place in terms of general significance, investment potential and applicability in industry and real-life.

The CCID report collates blockchain projects and compares them across different categories. The recent report has shown that EOS, TRON and Ethereum dApp platforms are ahead of all other cryptocurrency and blockchain solutions at present.

CCID has assigned an average rating of 138.4 to TRON, 136.4 to Ethereum and a mere 104.9 to Bitcoin, relegating the cryptocurrency outside the top 10. The way CCID rates these projects does include subjective categories such as usability, as well as whether a project can be scaled economically or as part of an industry.

The idea behind the report is to give companies and investors a simple overview of which projects might be worth pursuing and which should be left out. However, some have questioned the validity of the report.

For example, Qtum founder Patrick Dai pointed out that the value of the cryptocurrency has kept rising even though Qtum hasn’t made any breakthrough developments. An alternative measuring report is the one produced by Weiss Crypto Ratings, which has described Bitcoin as one of the crypto ecosystems with the biggest potential.

In the context of crypto gambling, there are certainly correlations to be made.  EOS, TRON and Ethereum casinos often stand apart in terms of functionality and innovation, whereas bitcoin-based casinos still attract the most daily active users, which may point towards simplicity and accessibility being a key factor at play.

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CGN senior journalist 

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