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China sees Ripple as innovative blockchain while Bitcoin gets no love again

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The crypto ranking in China is not breaking news as it started in May this year whereby including Bitcoin and Ripple a total of 28 crypto projects were ranked. Cryptocurrencies get evaluated in three categories: application, innovation, and technology. The cryptocurrencies are then get classified as well as in an overall index. From the first ranking of 28 crypto projects in May, there is an increase in number to a total of 33 crypto projects in the latest ranking.

New cryptocurrency rankings by CCID – Bitcoin downgraded further

On Monday, China’s Center for Information and Industry Development (CCID), under China’s Ministry of Industry and Information Technology announced its new (sixth) update of the crypto projects. As like from the last time, at the top of the overall list is EOS followed by Ethereum and then comes Bitshares.

However, it’s not good news for Bitcoin as it has been downgraded further to 19th in the rankings. During the August update, Bitcoin was ranked 10th but fell to 16th in September’s update. We’re not predicting that we expect it to fall further during the next update, but it seems as if its overall rank falls in every new update China sends out.

Bitcoin Cash (BCH) is doing well as it has moved up a few positions occupying the 28th spot from last month’s 31st place. At the bottom is NEM which looks like it doesn’t want to surrender its previous position.

The Ranking Methodology

In the overall category, as mentioned in the beginning, topping the list is EOS which has proven to be China’s favorite thus far followed closely by Ethereum. EOS was not included in the first ranking issued in May only probably because its main network was not yet online. But after that, it has held the first position with no signing of going down.

According to the CCID, the technology category of ranking the crypto projects accounts for 65%, and it evaluates the technical realization, examines the performance, safety as well as the decentralization of the public chain. According to that category, the top five maintained their positions from the last update, and they are EOS, Bitshares, Steem, Ethereum, and Gxchain.

On applicability which evaluates the comprehensive level of Blockchain’s support for applications such as wallet application, node deployment, application implementation, and development support, the top five positions were taken by Ethereum, NEO, Nebulas, Qtum, and Dash respectively. As per CCID, this category accounts for 20% of the overall ranking.

Regarding creativity which accounts for 15% of the overall ranking and focuses on the continuous innovation in the public chain that includes developer size, code impact, and update, the top five positions were occupied by BTC, Ethereum, EOS, Nuls, and Cardano.

CCID China Ripple Innovation

The screenshot of the CCID report page having Ripple as the first in the list of innovative project index. | Source: CCID

The latest ranking index that involves the crypto projects which have the most significant increase in innovation lists Ripple at the top, and then comes Nuls, Lota, Nebulas and Bitcoin Cash respectively.

It’s quite interesting to see how China keeps rating Bitcoin low even though at least 50% of BTC is believed to be controlled from China since that much of crypto-king gets mined there. Of course, Ripple topping the list of most innovative crypto projects is pretty good news for the XRP community who seems to be most active than the rest (to me). Ripple making to the top is well-deserved though since the blockchain firm has proved they actually are innovating in different ways that how people deal with money today.

The primary purpose for the ranking is to be able to assess the development level of the global public blockchain technology scientifically as well as to grasp the trend accurately.

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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 Glaborde7/Pixabay

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Why BlocPal Is the Easiest Way to Accept Cryptocurrency

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The face of the retail industry is always changing.

E-commerce is one of the fastest growing trends worldwide, and for good reasons.

It’s convenient, secure, and is effective at connecting merchants with interested shoppers from across the world.

For this reason, it’s no surprise that online shipping is expected to overtake brick-and-mortar stores globally by 2021, making it the world’s largest medium for retail. As the industry changes, it’s important for retailers to keep up with the latest technology so they’re able to accommodate more customers at once. This is where BlocPal comes in.

BlocPal offers business owners an easier way to process payments

BlocPal understands that not every business owner adapts to technology at the same rate. As such, BlocPal has been designed to optimize transactions for both online and brick-and-mortar companies so that every retailer can enjoy the benefits that come with the world’s first true multi-currency payment solution.

With BlocPal, business owners can enjoy the following benefits:

    • The ability to process payments in fiat (USD and CAD) currency as well as Bitcoin, Bitcoin Cash, Bitcoin SV, Litecoin, and Ethereum. Expect more currencies to be added as BlocPal…
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Bitcoin Grows Beyond $4,000

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Bitcoin grows beyond $4000
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Bitcoin (BTC) is starting to make waves again, and while they are still small, investors around the world are welcoming the positive development. The number one cryptocurrency has just breached the $4,000 mark, and while this is still five times lower price than it was in early January 2018, it is over $800 higher than in early December 2018.

At the time of writing, Bitcoin price is at $4,048.60, after the coin experienced a 5.53% growth in the last 24 hours. Meanwhile, its market cap sits just above $70.5 billion, while the coin’s daily trading volume is at $5.7 billion.

Bitcoin has had a rough 2018, just like the rest of the crypto market. In fact, the coin is so influential that it usually dictates the market behavior, whether positive or negative. Right now, the rest of the market follows the positive trend, with all of the top 10 cryptocurrencies currently trading in the green, while only a few among the top 100 coins are experiencing minor losses.

The largest gainers among the top 10 cryptos by market cap are Litecoin (LTC) with a 7.64% growth, and Stellar (XLM), which is growing by 7.27%.

Bitcoin’s behavior in the new year has mostly been positive, which is a trend that originally started on December 17th, 2018. After a month and a half of constant losses, which have brought…

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Bitcoin

What Will Happen First: BTC 2k or 5k?

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2018 has ended, and while there was no enormous surge that investors were hoping for, it still ended with a bit of hope for those wishing to see Bitcoin BTC rise.

Only two weeks before the end of 2018, BTC was in a desperate position, with the value of its coin being at $3,200, threating to drop even lower. However, a sudden surge occurred on December 17th, which returned $1,000 to its value. And, since it lost approximately $400 since then, the final days of 2018 have still seen BTC well-above its lowest point of that year.

Now, 2019 has arrived, with traders and investors wondering what will happen next? Is BTC going to drop to $2,000? Will it rise back to $5,000? Will the bear market expand to this year as well, or is the market ready for a proper bull run this time?

The answer, once again, remains uncertain. The problems with scalability may be reduced significantly soon, but high volatility remains an issue. Even the slightest shift can have enormous consequences for the entire market, and any news can impact the BTC price, no matter how big or small, or if positive or negative. To stop its further drop, BTC had to find a balance. However, this balance is more fragile than ever, and the price is expected to move very soon.

What to expect…

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