- Crypto influencer unearths Chinese Ministry’s 2018 blockchain rankings.
- ETH secures the top spot, while Bitcoin lands at a modest 13th place.
- Former top-ranked blockchains face challenges as their market caps significantly decline.
Mr. Huber, a well-known figure in the crypto community, ignited a conversation on Twitter by referring back to a 2018 report from the Chinese Ministry of Truth, where the best blockchains in the world were identified.
The report, released by the CCID Research Institute of the Ministry of Industry and Information Technology, unveiled the Global Public Blockchain Technology Evaluation Index. This index ranked various public chains based on technological prowess, applicability, and innovation potential.
The best blockchains in the world according to the Chinese Ministry of Truth. https://t.co/IMSCsnFEXx pic.twitter.com/nb9nvCKFYt— Mr. Huber (@Leerzeit) June 22, 2023
Topping the crypto projects evaluation list was Ethereum, the second-generation blockchain technology known for its smart contract capabilities, with an impressive technology evaluation index of 129.4.
Steem Chain, Lisk, NEO, and Komodo followed closely behind, securing spots two to five, respectively. Surprisingly, Bitcoin, which has long been a focal point in the industry, landed at a modest 13th place.
The comprehensive evaluation considered crucial aspects such as basic technical level, application level, and innovation ability in ranking the projects. However, it has become evident that some could barely survive the crypto market’s ups and downs.
While the projects ranked five years ago by the Chinese Ministry of Truth are still available and trading on the market, most of them have lost their previous billion-dollar market share.
For example, Steem Chain, which ranked right behind Ethereum then, had a market cap of over $1.5 billion as of January 2018. Unfortunately, the coin’s market cap is now down to around $75 million, nearly at position 300 among the most significant crypto projects.
Similarly, the market caps of Lisk and Komodo coins remain far below $100 million, while Ethereum maintained a top-ranking position with a $228 billion market cap.
Ultimately, the fact that Steem, Lisk, NEO, and Komodo still trade on the market is notable, unlike some twelve thousand coins that have lost market relevance, as Coin Edition reported last October.
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