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Chinese Govt Ranks Cryptos: ETH is number one, BTC at 13th Spot
The Chinese government decided to publish its own ranking sheet regarding the cryptocurrencies. The results were unexpected, with Ethereum (ETH) being ranked the top crypto, and Bitcoin (BTC) landing on the 13th place.
China publishes its crypto ratings
The Ministry of Industry and Information technology of China has decided to release its own ranking sheet, in which it created a list of 28 cryptos. The cryptos were ranked according to three criteria, which include technology, application, as well as innovation.
1/ Public blockchain ratings by China's ministry is out: #Ethereum ranks top of the 28 cryptos evaluated
Source (in Chinese): https://t.co/9jStIiFKcc— cnLedger (@cnLedger) May 17, 2018
According to China, the best crypto seems to be Ethereum (ETH), which is dominating the list. It is closely followed by Steem and Lisk, as well as Neo and Komodo. These five are also making the top 5 according to China. It is surprising that Komodo managed to rank this high since it is a lesser-known platform that holds the 58th place according to market cap. Another one that stands out from the rest is Steem, which does not allow for creating smart contracts, while the rest of them do.
4/ Detailed scores of the first crypto ratings by CCID Research, China's Ministry of Industry & Information Technology pic.twitter.com/7LiJIWokge
— cnLedger [Not giving away ETH] (@cnLedger) May 17, 2018
Many were also surprised to find Stellar (XLM) on the list, considering that the crypto from which it initially developed, Ripple (XRP) did not even make the list. Ripple was completely excluded, which is seen as odd by many considering the similarities between the two platforms. Because of this, as well as other reasons, people are questioning the validity of this ranking.
Another interesting thing to note is that the report has put Monero (XMR) on the top ten. Monero is usually seen as an ‘undesirable’ and was red-flagged by various governments already. FSA shares that opinion and even Japan, who is seen as one of the countries most friendly towards cryptos doesn’t want to work with this currency.
Not many people were especially glad to find Bitcoin (BTC) on the 13th place. However, the surprising part is that Verge (XVG) is included on the list, but cryptos like EOS and VeChain (VEN) are nowhere to be found. This is yet another reason for crypto enthusiasts to suspect that the list was made by someone who was not exactly objective.
Crypto supporters had a lot to say regarding this list, from disbelief that XVG tech is deemed better than BTC tech, to wondering whether the list is even real, or at least credible, given the results.
Use Weiss Ratings as an alternative
Instead of this rating system, it is highly suggested that crypto enthusiasts try following Weiss Ratings. Weiss has been around for nearly 50 years now, ever since 1971. In this time, it graded pretty much everything, including things like insurance plans, stocks, and of course, cryptocurrencies.
In fact, they released their own top three rankings in February, where they put EOS, Cardano (ADA), and Steem.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
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