EOS [EOS] blockchain network is declared the best by China 17029
Ashmita Dutta
Jun 25, 2018 at 8:17 PM

EOS[EOS] blockchain network attains the top most position in the global crypto market by China Electronic Industry Development (CCID). CCID updated its rankings focussing on blockchain network, wherein, EOS [EOS] becomes the best and Bitcoin [BTC] misses out position in top ten ranking. According to a recent report by BCFocus, EOS [EOS] is gearing up to participate in the Japan Blockchain Conference to be held in Tokyo.

Prior to the top most ranking, EOS [EOS] encountered reprimanding comments from experts like Emin Gun Sirer, a reputed professor of Cornell University. It also received critical reviews from Nick Szabo, a pioneer of smart contract and also suspended 27 accounts of the user without concrete reason.

See also: EOS [EOS] freezes 27 accounts, but what caused the ban? 

Despite all of these, the government of China positioned EOS [EOS] at the top of all the blockchain networks operating globally. China placed this blockchain even before Ethereum [ETH] network. In terms of advanced technology and innovative approach, Chinese government declared EOS [EOS] network to be the best.

Perfect ranking not possible

It is, indeed, not feasible to give exact ranking based on blockchain network performance since innumerable projects are being undertaken, simultaneously. The projects can be minimally classified into 10 distinct categories. Few of these categories include utility token, payment, proof-of-stake, smart contract, appcoin and bank protocol.

CCID is a Chinese governmental body whose ranking is based on proper reasons revolving around application, technology and innovation.  In the CCID ranking, EOS [EOS] gets the top position for securing in application a mark of 15.4 points. In technological domain securing 15.4 points and in innovation, it secured 44.1 points.

Following the first rank holder, is Ethereum [ETH] network which secured in application 24.9 points. In innovation, the network got 28.3 points and finally in technology it received 85.2. Ethereum [ETH] blockchain envisions to hybridise PoS and PoW network in the future times. It is for this reason, the extra points given to EOS [EOS] network is justified for being integrated with PoS.

However, EOS [EOS] network cannot function without the primary layer of Ethereum blockchain. Thus, in terms of application and technology, EOS [EOS] should not be placed above Ethreum network [ETH]. 250,000 developers or more comprise the development community of the open- source Ethereum network. These developers are assigned with the task of providing solution for scaling.

See also: EOS [EOS] BP freezes seven accounts without undergoing arbitration

Vitalik Buterin, the creator of Ethereum [ETH] blockchain stated that Ethereum’s [ETH] transaction capacity can increase and reach 1 million transaction each second. In the words of Buterin, “The reason I think layer 1 and layer 2 [networks] are complementary is that ultimately, if you look at the math, the scalability gains from the layer 1 improvements and layer 2 improvements do ultimately multiply with each other. If you have a Sharding solution, the Sharding solution itself might increase the scalability of Ethereum by a factor of 100, or eventually even more. But then, if you do Plasma on top of the scalability solution, then what that means is, you’re not just doing 100 times of the amount of activity but you are doing 100 times the amount of entrances, the amount of exits, and despite resolutions.”

Image via Google

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