EOS has once again be ranked on the number one position bt the Chinese government in the list of best cryptocurrencies around the world. This ranking was carried out on the basis of the innovation and application that a cryptocurrency has to offer over the market Capitalization. Earlier Bitcoin, the most prominent cryptocurrency dropped from the first position to the 7th in a month.
The Ranking of Cryptocurrencies
CCID that is China’s center for information industry development recently published the 3rd of its Global Public Chain Technology Evaluation Index ranking the most prominent cryptocurrencies on the basis of technology, an application as well as innovation. EOS has managed to again top the list for the second consecutive edition issued by CCID despite the concerns over the botched mainnet of the platform that was launched in June.
This ranking clearly depicts the scalability of this cryptocurrency. This is a platform that has a proof-of-stake protocol that is capable for successfully processing the high number of transaction in comparison to all the leading blockchains including bitcoin and Ethereum.
Not only EOS managed to sustain its position, Ethereum also kept going at the second position in the list. Get a look at this list of top ten cryptocurrencies generated by China’s center for information industry development.
The Rise in the Bitcoin
Although bitcoin did not perform well in the first two editions created by CCID reports, it has managed to hit the mark in the list after the structural shift in the cryptocurrency market. As per the previous reports, the bitcoin’s dominance rate has increased around 40 percent over the past three months. Now, the scenario is that Bitcoin accounts for more than 52 percent of the entire market capitalization when it comes to cryptocurrencies.
So, besides being a dominating cryptocurrency, the bitcoin’s market seems to be growing every time. This growth in bitcoin suggests that other cryptocurrencies will rise and fall on its whim.
What is the near future of these digital assets?
As per the dependability of performance of other cryptocurrencies on the basis of growth of bitcoin, it is clear how important is the necessity of non-correlation with bitcoin for a healthy cryptocurrency market. As per the current scenario, the recent price developments suggest that all the crypto investors are dropping more speculative bests for the asset that has a proven track record. In light of this changing perspective of the cryptocurrency investors, Ethereum founder Vitalik Buterin mentioned how this new era of ICOs with better and more stimulative protocols will transform the industry for good.
Evidently, the paradigm named “Token 2.0” could be materialized as early as the next year 2019.