EOS Adds Another Feather To Its Cap, Rated Best Blockchain By The Chinese Government

The China Center for Information Industry Development (CCID) which has created Global Public Blockchain Assessment Index, released its second monthly ratings, naming EOS and the best project. Out of the 30 assessed projects, EOS surpassingly topped the list with an overall score of 161.5.

Understanding “Global Public Chain Assessment Index”

Global Public Chain Assessment Index is a brainchild of China Center for Information Industry Development (CCID) of the Ministry of Industry and Information Technology. The index provides a thorough review of global blockchain projects by specialists in government, academia and industry. The announcement of the Index was done on May 11, 2018, during an expert seminar on public chain assessment.

Leading personalities from industry and academics such as Prof. Zhong Chen from Peking University, Prof. Jingsha He from Beijing University of Technology, Prof. Yi Sun from Chinese Academy of Sciences, Microsoft China CTO Jiang Li and other well-known blockchain experts were invited to the conference. It was during this conference the criteria for identification of public chain objects was announced. These included the following aspects of assessment

• The project should have its own independent main chain
• The node can be freely created
• It should have a published block explorer where block information can easily be tracked
• Open source code
• The project’s website page is available and the project’s team member can be contacted.

This factor covered the three major fundamental factors of any blockchain – its technological capability, the usefulness of application, and innovativeness.

Also, read: Kraken Resumes EOS Deposits and Withdrawals

EOS- fundamentally strong to become a long-term wealth creator

When thoroughly assessed amongst 30 projects, EOS stood out the best in all 3 fundamental parameters of technology, usefulness and innovation. This clearly put EOS ahead in the game amongst others. The list has some prominent names like Ethereum, NEO, Stellar, and Lisk which respectively took the spots after EOS. What came as a surprise was Bitcoin’s ranking. The bellwether cryptocurrency was ranked 17th in this list which was majorly due to in its lack of technological capability and usefulness despite its innovativeness.

This assessment is an indicator that EOS token is here to last. Fundamentally the blockchain has everything that can make cryptocurrency acceptable in mainstream businesses in the future. This is also indicative that the price at which EOS is trading is just the base and if EOS continues its work in the same manner, it will definitely be a wealth multiplier for its investors.

Will EOS actually be the best blockchain and shape the future that lies ahead? With this study undertaken by China an effort to adapt cryptocurrencies? Do let us know your views on the same