The CCID Research Institute, China’s government-backed technology working group, published the 19th cryptocurrency ranking. The blockchain EOS, backed by the established proof-of-stake (DPoS) consensus algorithm, left nobody in the first place again.
IOST Reaches Third Place
IOST ranked third with 133.1 points, becoming the biggest winner on the updated list. It has the highest score (111.9) in the technology department but lags behind all of the top 10 tokens in innovation.
The project has a sincere relationship with the Chinese government. In late June, it announced its education initiative with the China National Archives Administration (NAA) to raise blockchain awareness across the country. The IOST team was also invited to the Chinese state TV network CGTN.
Tron, on the other hand, has dropped below Ethereum and IOST after staying in second place for over a year. The coin, under the direction of Justin Sun, has mostly been under the radar for the past few months, and its return to DeFi has largely been left unnoticed.
Bitcoin is Away From the Top 10
Bitcoin, the number one currency by market cap, is still struggling to enter the Top 10. There are 37 cryptocurrencies on the list and BTC is in 14th place, one place higher than XRP. Bitcoin Cash is the 30th best cryptocurrency according to the CCID’s last ranking.
The organization evaluates Blockchain projects based on their technology, applicability, security and decentralized level, but the validity of its methodology is always questioned by industry experts.