Cryptocurrency, Featured

Cryptocurrency In China: Bitcoin Drops To 17th Rank

Cryptocurrency in China is gaining high popularity as the government is revising the projects ranking from time to time. In the second run of the rating, there is an addition of two latest crypto projects. In the overall list of 30 virtual projects EOS tops the list leaving behind Ethereum to second place and Bitcoin on 17th position. The system is termed as Global Public Chain Technology Evaluation Index which includes crypto and blockchain events.

According to Bitcoin Exchange Guide, the platform of evaluation index is being governed by China’s Center for Information Industry Development. It is regulated by Ministry of Industry and Information Technology. The second run of the ratings was released at Shanghai Science Hall last week. The figures are analyzed and established by the domain experts of the cryptocurrency market. The positions are given on the basis of platform efficiency, the performance of its network and cost of the transaction.

Cryptocurrency in China is favoring EOC despite its technical glitches and security theft issues. The index details that its operating system’s technology is innovative and impressive. In fact, it has been termed as a new generation public blockchain due to which it has come up to the top in spite of recent failures.

This performance analysis is being done every month for updating the investors about the performance and technological development of blockchain projects. Cryptocurrency in China gets highlighted in this index as there is no independent assessment which discloses about the crypto market.

Blockchain In China

Blockchain technology has received support in China both from consumers and government. However, the government has set up agencies for its regulation so that there is no violation of norms. Chinese President Xi Jingping of late mentioned blockchain as the new generation of technology which will bring change globally. In other words, cryptocurrency in China is slowly getting organized in the trade market with optimum security.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Neha graduated in Electronic Media and has worked with Times group for 3 years with an overall experience of 6 years. She is passionate about learning languages and is a certified French Language Expert and IELTS Trainer. Neha writes breaking cryptocurrency news stories for OWLT Market.

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