China considers Ethereum the world's best Blockchain network

China considers Ethereum the world’s best Blockchain network

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Today the government of China published the rating, in which Ethereum blockchain was rated as the best  in the world.

In total, the researchers examined 28 crypto-currencies, which were evaluated by such criteria as “technology”, “application” and “innovation”.

Ethereum, despite the high ratings on the three counts, became the absolute leader only in the field of “application”.

In addition to Etherum, the top five included Steem, Lisk, NEO and Komodo. Each of them uses smart contracts for the effective and safe processing of information.

At the same time, bitcoin shared 13th place together with Verge. Researchers paid tribute to the first cryptocurrency as a pioneer in the world of digital assets, putting it the highest mark for innovation, but considered “digital gold” to be technologically weak.

Analysts based placement of bitcoins ranked 13th in the ranking of the illogical, as it has one of the most active open source communities in the global cryptocurrency sector, and it has developed innovative technologies such as Confidential Transactions (CT), Bulletproofs and Lightning Network.

Ethereum Classic, Ripple, Dash, Litecoin and NEM did not score enough points for inclusion in the main rating.

The majority of the cryptocurrency community are expected that the Chinese government would deal with decentralized networks and protocols of blockchain. Therefore, the rating of the government demonstrates their intention to remain objective in its assessment.

Nevertheless, analysts said that the Chinese government has lost sight of the long record, hashrate, processing power and the accumulated complexity of large networks of the blockchain, such as bitcoin.

The high-grade of Ethereum networks and smart contracts can affect the government to potentially allow some blockchain network to work in China.

Recall, the plans of the Chinese authorities to compile a rating of cryptocurrency became known last week.

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