Bitcoin is far from being №1 🗒China’s Ministry of Industry & Information has elaborated new ranking system for cryptocurrencies. The rankings are based upon research by the ministry which have focused on three key areas of the industry.
✅Firstly, the technology behind the currency, secondly, the applications of the currency and thirdly, the innovation, driving the future of the currency. A number of currencies have received scores for each aspect and thus have been ranked accordingly. Overall, Ethereum came out as the clear winner, scoring a total index of 129.4.
➡The real surprise here is Bitcoin, which managed to fall in at 13th place, alongside Verge, with scores of 88.1. Verge however did score higher than Bitcoin for technology, although overall, Bitcoin took the edge when it came to Application and Innovation.
📊China is now taking cryptocurrencies very seriously. The authorities and the Ministry of Industry & Information now seem to be looking towards establishing regulations that can foster a healthy environment for cryptocurrency use in the country. #bitcoin #cryptocurrency #chinese #research #currency #futurism #regulations