Analysts from China published a new version of the rating of public blockchain networks like Bitcoin and Ethereum. The basic selection conditions were the practical value and the technological component of these networks.
Two institutions funded by the Chinese government were responsible for rating formation directly - The China Software Testing Center and China Electronic Information Industry Development Research.
Not so long ago EOS cryptocurrecy had already beaten Bitcoin and Ethereum at the ranking of the best blockchain networks in the global cryptocurrency sector. In the new version of the rating EOS finally took first place, having left its famous competitors far behind. And if Ethereum got to second position, then there was only tenth place left for Bitcoin. Even less popular Stellar and NEO got ahead of the world's expensive cryptocurrency.
In addition to Stellar and NEO the first ten positions also include Lisk, Komodo, Nebulas, Steem and GXChain. According to the Chinese analyst's opinion, all these crypto currencies are much more innovative and usable than Bitcoin. However, Bitcoin was awarded by the highest rating in the "Innovation" cathegory, since it was the one which served as the base for first blockchain network in the world.
According to July ranking, compiled by Chinese analysts, Bitcoin was already occupying the 17th place. Over the past 30 days, none of the list included cryptocurrencies had demonstrated any significant technological breakthroughs. Сonsequently, overcoming seven positions by Bitcoin can be seen as recognition of its value as an accumulation tool.
While creating a new version of the rating, analysts primarily considered the support of smart contracts and decentralized apps by cryptocurrency. Practical value in the rating is determined by the possibility of applying the technology in other systems. The technological value means the scalability and blockchain capacity.
The most highly rated at the "Technology" cathegory, EOS cryptocurrency uses the DPoS consensus algorithm (Delegated Proof-of-Stake). Due to it, EOS has a lot more bandwidth than Bitcoin and Ethereum, which allows EOS to process a huge number of transactions per second.
The logic of Chinese analysts, who posted the EOS, Ethereum and Stellar above Bitcoin, is quite obvious: these are considered as high-performance blockchain networks and meet the criteria of innovativeness and practical application. Nebulas cryptocurrency took the sixth place, since it supports nearly 7 thousand of decentralized applications and is able to handle about 35 thousand transactions per second. However, Chinese analysts did not take into account past achievements and the level of security, which are extremely important considerations in the preparation of such ratings.