EOS Leads China’s Blockchain Rankings Again, Bitcoin Still Out of Top 15

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The Chinese government has released its third round of public blockchain rankings, and EOS — the fifth-largest cryptocurrency by total market cap — once again reigned supreme.

EOS Tops China’s Blockchain Rankings for Second-Straight Month :---

Those rankings, published by the state-backed China Electronic Information Industry Development (CCID) and released this week, evaluated public blockchain networks according to three metrics, roughly translated as technology, applicability, and innovation, which were then compiled into an overall index score.

Though scoring below its peers on applicability (middle column), EOS led the rankings with an index score of 145.6 due to strong showings in both the technology (left column) and innovation (right column) categories.

The evaluators are clearly impressed with EOS’ consensus algorithm, which utilizes a Delegated Proof-of-Stake (DPoS) model to prioritize scaling and speed at the expense of some level of decentralization. Indeed, the rankings clearly favored projects that use DPoS or federated consensus models, which offer quicker and cheaper transactions but incite more criticisms related to centralization.

One partial exception to that rule is Ethereum, which currently uses a Proof-of-Work (PoW) consensus algorithm but has published a roadmap detailing a future transition to the more energy-efficient Proof-of-Stake (PoS).

This makes sense, as at least one Chinese government official has argued publicly that blockchains should be centralized, though, in fairness, none of these public cryptocurrency networks are as centralized as what that official believes is ideal.