FREE BITCOIN

Gamble as you want,

your wife will never find out!

First p2p bitcoin betting platform!

Guess Bitcoin’s trend and win!

Clever enough to guess

Bitcoin price?

China sees Ripple as innovative blockchain while Bitcoin gets no love again - Global Coin Report
Connect with us

Bitcoin

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

Published

on

Ripple Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

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.

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

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

Bitcoin

Why Bitcoin (BTC) Revival is Likely to Continue

Published

on

Bitcoin (BTC) revival
READ LATER - DOWNLOAD THIS POST AS PDF

The cryptocurrency market has been doing rather well in 2019 — certainly much better than in 2018. More than a year ago, the market crashed from its all-time high, and in the months that followed, it lost over 80% of its market cap. Bitcoin (BTC), as the leading digital currency, also dropped from $20,000 per coin to barely $3,200 in 2018.

These days, however, the situation seems to be turning, with digital currencies seeing significant growth in prices ever since mid-February. While January stopped the drops, February is the month when the market once again started seeing gains, and this kind of behavior has continued to this day. But, what does this mean for the future? Is this a passing trend, or is the crypto winter truly over?

The revival of Bitcoin

Questions such as the short-term future of Bitcoin are on many traders’ and investors’ minds right now and have been ever since the prices started growing again. A well-known Futures Now trader, Jim Iuorio, recently stated that Bitcoin would start seeing massive profits if it surpasses the price of $4,045. That was, of course, before the coin surged by around $1000 in the last week.

However, Iuorio’s prediction was that BTC is unlikely to go below $3,820, while the growth beyond $4,045 would mean massive gains for those involved with the industry. Soon after this prediction…

Continue Reading

Bitcoin

How to Become a Millionaire without Risking Everything with Bitcoin

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

It’s been well over a year since the crypto market reached its peak and then crashed, dropping to such lows that most of the coins lost anywhere between 80% and 95% of their value. A few of them lost even more. Of course, this was not enough to eradicate the crypto market, and the bulls are still as optimistic as ever, especially these days, when Bitcoin price surges again, taking the rest of the market with it.

Some predictions claim that Bitcoin will reach its own glory days within a year or two, and there are even speculations that the largest cryptocurrency might spike up to $100,000 per coin. One claim from last week even sees BTC hitting $400,000, as the highest price which someone was brave enough to predict.

While it is certainly possible — at this point, pretty much anything is — not everyone is willing to take such a gamble and invest their hard-earned money into a risky asset such as digital currencies. With that in mind, here are three alternatives that are considerably safer than Bitcoin and the altcoins.

1. Investing and re-investing in stocks

A lot of people — especially younger generations — find stocks to be incredibly boring. Most of the time, all you do is invest, and use the returns for re-investing in high-yielding shares. However, while boring will not…

Continue Reading

Bitcoin

The Best Time to Buy Bitcoin (BTC) Approaches

Published

on

Buy Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

Ever since 2019 started, the bear market of 2018 has been losing momentum, with the bulls emerging numerous times in short intervals. This was the beginning of a crypto recovery, which still has quite a long way to go.

However, last week, Bitcoin saw massive growth in transactions, reaching a 14-month high. These were the levels that were previously seen back in 2017, as BTC approached its highest point in terms of price. The growth also reflected strongly on BTC price, which spiked yesterday from around $4.100 to the current $4,672.

Meanwhile, Bitcoin market cap followed as well, currently sitting above $82.3 billion, while the trading volume exceeded $14.5 billion.

What caused the growth?

While this is an exceptional growth, and potentially a start of the bull run that everyone was waiting for, it did not come without a cause. One of the reasons why BTC surged was last week’s Weiss Ratings report of multiple different cryptocurrencies. The report’s authors even stated themselves that the best time to invest might be very near at this point.

Weiss Ratings has done reports about specific coins in the past as well, and this time, they noticed a significant improvement in coins’ performance. The report mentions growth in user transaction volume, network capacity, as well as network security, which the authors took as an improvement coming from the evolution of the…

Continue Reading

Elite