Cryptocurrency Rating Index Announced by China Government

China Electronic Information Industry Development (CCID) of the Ministry of Industry and Information Technology recently announced the government’s inaugural monthly Global Public Chain Assessment Index during a conference in Beijing.

Chinese government had conducted an independent analysis of cryptocurrencies and global public blockchain technology based on which the recent index was developed. The results of the analysis will be used as a guide for the government as well as for Chinese enterprises and research institutes which proves how serious the government is about the new technology and its future.

According to CCID representatives, Chinese government finds blockchain technology an active area for further innovation and development which has all the potential of having significant influences on the economy and commerce. It was also confirmed that first-rate domestic experts and scholars were brought together to work on the recently announced independent Global Public Chain Assessment Index.

As it was officially explained, the Global Public Chain Assessment Index aims at evaluating the technological capability as well as the usefulness of the application, in addition to assessing the innovativeness of the project. The newly developed Index scientifically evaluates the development level of the projects in order to profoundly understand the trend of blockchain technology innovation.

As reported, there are 28 cryptocurrencies on the inaugural list which include: Ark, Bitcoin, Bitcoin Cash, BitShares, ByteCoin, Cardano, Dash, Decred, Ethereum, Ethereum Classic, Hcash, IOTA, Komodo, Lisk, Litecoin, Monero, NANO, NEM, NEO, QTUM, Ripple, Siacoin, Steem, Stellar, Stratis, Verge, Waves, Zcash. It was informed that the full ranking info will be also soon announced officially.

During the conference, the key criteria for identification of public chain objects were also announced. The main criteria include:

  1. The project should have its own independent main chain,

  2. The node can be freely created,

  3. The project should have a published block explorer where block information can easily be tracked,

  4. The project should have an open source code,

  5. The project should have an available website page and a team member can be contacted.

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