Bitcoin failed? digital gold only 12th place in the CCID ranking of cryptocurrencies
Bitcoin has been the absolute number 1 in the entire crypto space since its creation. This is particularly evident in the distribution of market capitalization, which BTC by far largely combines. According to Coinmarketcap, digital gold at $ 170 billion is almost 7 times bigger than the number 2 Ethereum at $ 25 billion.
However, not everyone always sees this clear supremacy as justified. Many Altcoin fans often denounce the "outdated" technology of Bitcoin and the low scalability. In a new ranking by the Chinese Center for Information and Industrial Development (CCID), digital gold is only 12th out of a total of 37 cryptocurrencies. Is BTC actually so bad and maybe Bitcoin is doomed to fail?
Bitcoin is not in the front ranks
The ranking is an index that the China Center for Information and Industry Development (CCID) renews every two months, examining cryptocurrencies for technology, applicability, properties, performance, security, creativity and decentralization.
In the now published 18th index of the CCID, the otherwise stable number 1 Bitcoin did not make it into the top 10 ranks. Digital gold only made 12th place among all 37 cryptocurrencies.
In first place is according to the CCID EOS with 150.6 points. Right after that come TRON with 135.9 points and Ethereum with 133.1 points. With 106.2 points, Bitcoin is still two places ahead of Ripple (XRP) with 105.0 points.
Is the ranking justified?
Despite the poor ranking, Bitcoin can still clearly score in one of the areas and is in 1st place. This area is called “creativity” by the CCID and could be interpreted as innovative and therefore disruptive the cryptocurrency . Here BTC scores with a rating of 43.0, while the second best candidate in this category, Ethereum, only gets a rating of 29.4.
With a score of 19.9, Bitcoin is in the middle of the field in the applicability category, while BTC is penultimate with 43.4 points in the “Basic Tech” category. But how justified is the overall rating of Bitcoin in 12th place?
First of all, it has to be said that the CCID ranking is only an opinion that, like any other opinion, can contain distortions and errors. Basically, however, it can be said that markets are usually right over a longer period of time and it is no coincidence that Bitcoin is still number 1 in terms of market capitalization despite 5000 other cryptocurrencies.
It is also worth mentioning that the number 1 in the ranking, EOS, is always said to be close to China and the decision-makers there. Nonetheless, Bitcoin also needs to evolve if BTC wants to remain number 1 in the future. This is exactly why thousands of developers work voluntarily on the code of the digital asset and are constantly developing it further.