On May 17, China's Ministry of Industry and Information Technology published a ranking of blockchains in the global cryptocurrency market based on three criteria: technology, application and innovation. The top five were Ethereum, Steem, Lisk, NEO and Komodo, all of which use smart contracts to efficiently and securely process information in a decentralized system.
Unexpectedly for the cryptocurrency community, Steem took second place, although unlike Lisk and NEO it is not a core technology that can be used to create decentralized applications. Steem is a blockchain-based content distribution platform. In essence, Steem is similar to Reddit, which is also based on this technology.
It was even more surprising to see Monero in 9th place, given the fact that some governments, including Japan, are concerned that Monero can process anonymous payments that can be used for money laundering and criminal activity.
It is strange that Bitcoin ended up in 13th place, which it shared with the Verge cryptocurrency, given that it is considered the most secure and popular cryptocurrency currency on the global cryptocurrency market. The explanation that bitcoin has no other functions and can only be used as money is illogical, since Steem, ranked second in the ranking, also has only one function - content distribution.
In addition, bitcoin has an active community of developers who have developed innovative technologies such as Confidential Transactions (CT), Bulletproofs and the Lightning Network, with which it is possible to carry out private transactions, process micro-payments, including the RootStock solution, which potentially allow bitcoin to function as a platform smart contracts like Ethereum.
Most of the community expected the Chinese government to include private networks and blockchain protocols that could help the government monitor or control transactions. However, the government's rating demonstrates its intention to remain objective in its assessment.
According to https://www.ccn.com
You May Also Like
Bitmain continues expansion into Switzerland
The Beijing company Bitmain is currently the largest manufacturer of mining devices. Last December, the Swiss project “Zug Crypto Valley” included Bitmain in its list of participants
Facebook is recruiting a large team of blockchain specialists
Last May, Facebook announced the creation of an experimental blockchain group led by David Marcus, an executive who previously led the Facebook Messenger development team. Since then, the company has been secretly hiring a new group.
