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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

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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Bitcoin

The rise of the crypto casinos

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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

Why Bitcoin and online casinos are the perfect partners

In many ways, it’s the perfect partnership between Bitcoin and online casinos with multiple benefits for both.

The first of…

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