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Ethereum (ETH) Ranked #1 In New Chinese Government Ratings

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Ethereum (ETH)
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The Chinese government has been known to have ordered a total ban on all cryptocurrency related activities in its jurisdiction. Every crypto from Bitcoin (BTC), Ethereum (ETH) and lesser coins was targeted in the ban that shook the crypto-verse last year and early this year. This attempt by the government was seen by many Crypto-enthusiasts as being unfair and perhaps a precursor for the authorities to issue a digital form of the Chines Yuan to further guarantee the currency as being a better stabler option to the regular crypt out there. This has not yet materialized but the Chinese authorities are now ranking cryptocurrencies.

In the new rankings that have just been released by the Ministry of Industry and Information technology, Ethereum (ETH) scored 129.4 in an assessment index by the ministry and due to its smart contract capability. The evaluation of the cryptocurrencies focused on the technical proficiency of the cryptocurrencies; the corresponding platforms that they offer; the application level of each; and their availability to the users.

Analysts were quick to add that the Chinese government rankings overlooked factors such as the track records of the cryptocurrencies to come up with the list. This then explains why Bitcoin (BTC) was ranked #13 even if it is the oldest and most popular of the bunch.

Below is the complete list from @cnLedger from Twitter:

Source, @cnLedger

To note is the number 16 to 25 rankings below the main table in the screenshot above.

The rankings by the Chinese officials could also prove what many Cryptocurrency enthusiasts have been saying with respect to Ethereum ‘dethroning’ Bitcoin (BTC) from the top due to its superior qualities and functions. Roger Ver, also known as ‘Bitcoin Jesus’ had expressed a similar opinion a week ago and had this to say:

“I see it happening, and I believe it’s imminent. Ethereum could overtake bitcoin by the end of the year and bitcoin cash could do the same before 2020.”

Bitcoin has enjoyed the spotlight for the last few years due to the fact that it was the first cryptocurrency in the markets. It also introduced us to blockchain technology and the concept of decentralization through its creator, Satoshi Nakamoto. What remains to be seen is the ‘flippening’ of Bitcoin by Ethereum.

Flippening is defined as the act of one lesser known or less dominant cryptocurrency, gaining prominence over another formerly dominant coin with time. In this case, Ethereum will be the one flippening Bitcoin.

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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

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Trusted Crypto Tumbler To Protect Your Wealth

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crypto tumbler
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Back when Bitcoin originally emerged, over 11 years ago at this point, cryptocurrency transactions were believed to be fully anonymous. This belief stuck around for years to come, but today, we know that, in most cases — this is no longer the truth.

Since the invention of blockchain explorers, it became possible to track every Bitcoin transaction, all the way back to the genesis block. This came as a part of blockchain transparency which promises to eliminate corruption, theft, and other such issues.

However, there is still a need for a certain level of privacy, as people like to keep their wealth to themselves, and not let everyone know how much money they have, or how much they sent for whatever purpose. This is why many are now using crypto tumblers, or mixers.

What do crypto mixers do?

As the name suggests, crypto mixers/tumblers mix up the coins in order to hide/disguise/make it difficult to discover where the coins came from. Things like the amounts, transactions, and wallet addresses to and from which the coins travel are fully traceable, which is why tumblers exist.

In a way, you could say that mixers can add an extra layer of privacy while using Bitcoin, Ethereum, Litecoin, and many other cryptocurrencies. There are many Bitcoin mixers Continue Reading

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Many of the Top Sports Betting Websites for 2020 Can Be Found On Boomtown’s Best Betting Page

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Sports betting is one of the widely known types of online gambling. With a large number of sports fans around the world, this type of gambling is one of the most sought after. The problem usually comes from when gamblers try to find the best sites out of the many available ones. Many new sports betting sites come up daily, thus making the selection process even harder. One of the best places to find top betting websites for sports is Boomtown Bingo. This platform doesn’t just give users the best online casino games websites, but they also cover sports betting. As such, boomtown bingo remains a one-stop-shop for everyone who needs the best and the latest online gambling and gaming sites for all types of devices.

Performance

The performance of any website is critical. Users need to find their way around the site easily, and that can be made possible with the site structure and arrangement. Loading time is also essential. A website that always hangs thus pushing the user to refresh every time is no good. These are some of the factors that Boomtown Bingo looks into when selecting the best sites for its users. You can be sure that the new sports betting websites listed on Boomtown’s platform have faster loading time, can be used easily by everyone,…

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What Prevents Crypto from Becoming the Top Payment Method

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As globalization spreads over the planet, the need for fast and cheap cross-border money transfers is growing rapidly. Cryptocurrency provides exactly that kind of transfers with the added benefits of security and lack of centralization. However, despite being what seems like the perfect solution to the global money transfer problem, crypto has yet to become a major player in the currency arena. It’s growing in popularity, that’s for sure. But that rate isn’t even close to what’s needed for crypto to become a recognized and universally accepted payment method.

The question is why?

There can be no doubt that the need for what cryptocurrency can offer is huge. It’s most obvious when considering the situation of migrant workers, who are also growing in number due to globalization. The amount of remittances in the world has risen to over $530 billion a year. However, the high cost of these transfers is such a concern that the UN launched a program dedicated to reducing those numbers to, at least, 3% by 2030.

One doesn’t need a degree in economy and finances to see what kind of difference cryptocurrency could make for this situation alone. At the moment, migrant workers are losing about $25 billion in money transfer fees. There are still some remittance…

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