Chinese cryptocurrency blockchain index: Ethereum top, bitcoin 13th

Ethereum cofounder Vitalik Buterin.

Getty/John Phillips

NEW YORK (Reuters) – Ethereum is the highest public blockchain within the cryptocurrency house, whereas bitcoin, the unique digital forex, is ranked 13th, in keeping with the Chinese authorities’s first month-to-month International Public Chain Evaluation Index launched on Thursday.

The index was created and launched by the China Heart for Info Trade Improvement, a part of the Ministry of Trade and Info Know-how in Beijing. It evaluates the technological functionality, usefulness of the applying, and innovativeness of the venture.

Blockchain, the system powering cryptocurrencies like bitcoin, is a shared database that’s maintained by a community of computer systems related to the web.

Ethereum, whose forex is named ether, garnered an general rating of 129.four. It has the change into the muse for a lot of preliminary coin choices, during which start-ups create their very own digital currencies and promote them to buyers to generate financing for his or her tasks.

Bitcoin, based practically 10 years in the past, had a score of 88 and got here in at No. 13.

Blockchain tasks Steem, Lisk, NEO and Komodo took second, third, fourth, and fifth place, respectively, with scores of 115.9, 104.eight, and 101.5.

The index, which options 28 blockchain tasks with their corresponding cryptocurrencies, might be up to date month-to-month.

The sector at the moment has greater than 1,500 cryptocurrencies, with a complete market capitalization of practically $380 billion, in keeping with digital forex tracker

Bitcoin, the most important of the digital currencies, final traded at $eight,153.39 on the BitStamp platform. Ethereum was down 1.four% at $689.62.

China, on the whole, sees blockchain know-how as an energetic space of innovation and expects public blockchains and decentralized functions to change into important components of the longer term economic system. Within the second half of final 12 months, although, the Chinese authorities began to crack down on unlawful preliminary coin choices.

China was probably the most energetic filer of blockchain patent functions final 12 months, in keeping with knowledge collated by Thomson Reuters’ Sensible Legislation from the World Mental Property Group database.

(Reporting by Gertrude Chavez-Dreyfuss; Modifying by Leslie Adler)

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