With a firm decision to start dealing with cryptocurrency, one should understand the intricacies of technology and application characteristics of every cryptocurrency. And namely: how to evaluate the cryptocurrency’s strength, how to analyze crypto rankings and not to loose on investing. Let’s review chinese ranking of Ethereum blockchain and Bitcoin.
How to navigate in the cryptocurrency world and not to let yourself down
One of the most important but rather subjective criteria to mind is innovation. And the second one is crypto ICO – initial cryptocurrency offering.
When choosing among various ICO today, you need to check and sum up the following benchmarks:
- Crypto-sale resiliency
- Business model relationships
- Operational transparency
All companies should provide public dashboards, independent auditors. We always have to keep your ear open for external advisors. Furthermore, pay special attention to how often the company shares the news with its potential customers. And of course rating disclosure shows the customer-oriented approach is also a mater.
Bitcoin ranked 13 is not a sentence
Bitcoin, as one of the most popular cryptocurrency brands in the public eye, was unbelievably marked down 13 in China. Additionally, the Chinese ranking erects Ethereum blockchain to the first place several years in a row! Steem, Lisk, NEO, and Komodo outran the competitors in the top 5. Each of them is a cryptocurrency which can be combined by information processing technology – smart contract and process information in a decentralized way. The shocking news is that bitcoin was ranked 13 by Chinese system. And certainly for a reason, as bitcoin is believed to be one of the most trusted and secure public chains.
Nothing surprises us in Chinese ranking
Now, let’s discuss other cryptocurrencies. For example, Steem was ranked extremely high by Chinese ranking. For cryptocurrency fans, it was the second shocking news. Still, as we all know, Steem is an open-source crypto project that can’t be considered to create a decentralized application. And the reason is simple: being a content distribution platform, Steem is based on the decentralized blockchain with the primary purpose of distributing content. Another surprise was Monero at the 9th place of the ranking. It’s the blockchain platform, which can process anonymous payments, is one of the cryptocurrencies with a high level of concern. Potentially it can be associated with criminal affairs and illegal money operations.
Evaluation model used
Such controversial ranking results warmed up the community interest and triggered a deep discussion about the evaluation ways in such ratings. Even comparing Ethereum price charts and Bitcoin price charts can be more illustrative than any questionable ranking.
The evaluation model of such ratings should be based on three primary areas: Technology, Applicability, and Creativity. The first area – Technology evaluates the realization of the public chain from a technical perspective. Applicability concerns the open-chain support for practical applications. And finally, Creativity observes the innovation process of the open chain.
Do not forget to mind all the factors and areas when choosing a blockchain. Nevertheless, cryptocurrencies occupy more life spheres. It is universal and secure. And even more – it’s the fastest way to pay with. Join Syndicate today and choose the most convenient way for you among all existing (BTC, ETH, DOGE, or BEH ) as payment methods.