{"id":116961,"date":"2019-10-30T02:15:42","date_gmt":"2019-10-30T02:15:42","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=116961"},"modified":"2019-11-07T02:51:33","modified_gmt":"2019-11-07T02:51:33","slug":"weiss-ratings-china-will-never-use-bitcoin-eos-is-number-one-rated-crypto","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/weiss-ratings-china-will-never-use-bitcoin-eos-is-number-one-rated-crypto\/","title":{"rendered":"Weiss Ratings: China will never use Bitcoin, EOS is number one rated crypto"},"content":{"rendered":"

Weiss Crypto Ratings<\/a> recently stated that China<\/a> would never use Bitcoin<\/a>. The comments come after the nation\u2019s Center for Information and Industry Development published the latest edition of its crypto rankings index.<\/p>\n

The Global Blockchain Technology Assessment Index<\/h2>\n

China\u2019s President Xi Jinping recently revealed<\/a> that he wants his country to \u201ctake the leading position in the emerging field of blockchain.\u201d Following Jinping\u2019s remarks, the Vice Chairman of the Center for International Economic Exchanges Huang Qifan stated<\/a> that the People\u2019s Bank of China (PBOC) is going to issue the world\u2019s first sovereign cryptocurrency.<\/p>\n

Now, the country\u2019s Center for Information and Industry Development (CCID), a subsidiary of the Ministry of Industry and Information Technology, released the 14th edition of the Global Blockchain Technology Assessment Index. Created in May 2018, the index provides better technical consulting services for government agencies, business enterprises, research institutes, and technology developers, according to the CCID.<\/p>\n

The latest assessments took into consideration 35 of the top cryptocurrency projects and ranked them based on the technology behind them, their applicability, and the type of innovation they bring into the world.<\/p>\n

The No. 1 spot was taken by EOS<\/a>, which has been leading the list since the second edition of the rankings. TRON<\/a> and Ethereum<\/a> took the No. 2 and No. 3 spots, respectively, after the former moved up one place compared to the previous issue.<\/a>\u00a0Surprisingly, Lisk<\/a> moved up to the No. 7 position while Bitcoin remains in the No. 11 spot.<\/p>\n

\n
\n
\n

\"The
Source: CCID's Crypto Rankings<\/figcaption><\/figure><\/dt>\n<\/dl>\n<\/div>\n

NEM<\/a> and GXChain<\/a>, however, were removed from the index in spite of \u201ca dynamic adjustment mechanism [that] were introduced to regulate the general public chain whose code replace fee is just too low,\u201d said a spokesperson for the CCID.<\/p>\n

Despite the popularity that the Global Blockchain Technology Assessment Index has in China, Weiss Crypto Ratings dismissed it.<\/p>\n

Weiss Crypto Ratings<\/h2>\n

In a tweet, Weiss Crypto Ratings questioned the veracity of CCID\u2019s blockchain index. The firm claimed<\/a> that the only way EOS could be ranked No. 1 when compared to other cryptocurrencies is by the high levels of centralization<\/a> it presents.<\/p>\n

\"Bitcoin<\/p>\n

Weiss went as far as to suggest<\/a> that \u201cChina will never use Bitcoin\u201d since this is an \u201copen, decentralized, permissionless, censorship-resistant\u201d cryptocurrency. And, these attributes do not align with what the CCID stands for.<\/p>\n

\"Bitcoin<\/p>\n

Weiss also offers cryptocurrency ratings that are published every week. The company\u2019s grading scheme takes into consideration a model that analyzes multiple data points on each crypto\u2019s investment risk and reward, technology, and adoption in the real world.<\/p>\n

Under Weiss criteria, Bitcoin and Ethereum have a B- rating while EOS has a C+. Other cryptocurrencies such as TRON and Lisk have a C- and D+, respectively.<\/p>\n

\n
\n
\n

\"Weiss
Source: Weiss Crypto Ratings<\/figcaption><\/figure><\/dt>\n<\/dl>\n<\/div>\n

The ratings provided by both the CCID and Weiss Crypto Ratings aim to help investors make the right choice when deciding whether to invest in any given cryptocurrency. But, the assessments are not financial advice.<\/p>\n

As China continues to push the adoption of blockchain technology, Weiss remains skeptical.\u00a0Weiss Crypto Ratings said:<\/p>\n

\u201cChinese take on blockchain is a perversion of the intended use-case for the technology.”<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Weiss Crypto Ratings recently stated that China would never use Bitcoin. The comments come after the nation\u2019s Center for Information and Industry Development published the latest edition of its crypto rankings index. The Global Blockchain Technology Assessment Index China\u2019s President Xi Jinping recently revealed that he wants his country to \u201ctake the leading position in […]<\/p>\n","protected":false},"author":148,"featured_media":116984,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nWeiss Ratings: China will never use Bitcoin, EOS is number one rated crypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/weiss-ratings-china-will-never-use-bitcoin-eos-is-number-one-rated-crypto\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weiss Ratings: China will never use Bitcoin, EOS is number one rated crypto\" \/>\n<meta property=\"og:description\" content=\"Weiss Crypto Ratings recently stated that China would never use Bitcoin. 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