Chinese Ministry Now Ranks EOS as World’s Top Blockchain Technology as IOTA Ranking Plummets

Chinese Ministry Now Ranks EOS as World’s Top Blockchain Technology as IOTA Ranking Plummets

We originally reported back in May on a new initiative undertaken by the Chinese Ministry for Industry and Information Technology – the so-called Global Public Chain Technology Evaluation (GPCTE) project – to rank the world’s leading blockchain technologies according to a number of metrics which include innovation, applicability and technology. 

The ministry, which revisits its rankings on a monthly basis, has just released its latest update which now sees EOS – perhaps surprisingly – sitting in premier position barely ten weeks after the platform’s go live.

Despite a series of teething problems with the project in the weeks following its release, it appears that the EOS team have addressed enough of the early concerns to gain the confidence of what is believed to be the world’s only statutory blockchain ranking system. 

IOTA Plummets in Rankings

Ethereum, which had ranked top of the GPCTE listings on its first outing, has now been relegated into second place although its absolute score has increased overall. 

IOTA has itself descended in the rankings, and appears to be the biggest loser over the same period – falling from joint 7th in the first round of ratings to 22nd with today’s update. However, its absolute score has fallen only by four points – raising some questions in relation to the transparency of the methodology being used. 

Stellar remains in its original allocation of 6th position, whilst Cardano falls from 7th place to 14th although its absolute score has once again only undertaken a slight fall. The Steem blockchain – which had originally ranked 2nd – now sits on ninth. 

To qualify for any kind of ranking on the GPCTE table, the team of evaluators headed by the ministry’s Dr PU Songtao seek out blockchain technologies which are public, permission-less and open-source, amongst other criteria.

Currently, blockchains are onboarded onto the list as a result of internal discussions, but the evaluation process will invite external submissions in the near future, Sontag has indicated previously