Best Blockchain Network according to China: Hint–BTC is not #1!

Best Blockchain Network

Ministry of industry and information technology, China has released public blockchain ratings and surprisingly, bitcoin is not #1 on the list. The top 5 coins are Ethereum, Steem, Lisk, Neo and KMD. This is followed by Stellar Lumens, Cardano, IOTA, Monero and Stratis. Bitcoin ranks #13, trailing behind Qtum and Bitshares.

Interestingly, the top five cryptocurrencies make use of smart contracts to efficiently and securely process information in decentralized manner.

1-5: ETH, STEEM, LSK, NEO, KMD
6-10: XLM, ADA, IOTA, XMR, STRAT
11-15: QTUM, BTS, BTC, XVG, WAVES
16-20: ETC, XRP, DASH, SC, BCN
21-25:LTC, ARK, ZEC, NANO, BCH
26-28: DCR, HSR, XEM

Detailed scores of the first crypto ratings by CCID Research, China’s Ministry of Industry & Information Technology

Many were surprised to see Steem in top five as it is not a base layer blockchain tech which can be used to create Decentralized applications. Steem is a content distribution network like Reddit which runs on decentralized blockchain.

We were also surprised to see Monero on the top-10 list. This is because almost all governments have expressed their concerns about being capable of doing anonymous payments.

  paxful

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