Ethereum Takes Top Spot in the Chinese Blockchain Index, Bitcoin Ranks 13th
The new index for a blockchain; Global Chain Assessment Index was introduced by the China Center of Information Industry Development (Beijing). The index evaluates the technological capability, usefulness of the application, and innovativeness of projects. Ethereum, whose currency is called ether, garnered an overall score of 129.4. It has become a foundation for many initial coin offerings, in which start-ups create their own digital currencies.
Today the sector unites more than 1,500 different cryptocurrencies, the total value of which is evaluated in about USD $380 billion.
China takes seriously to blockchain’s technology, suggesting that it will have a significant impact on the economy of the future. Moreover, China intends to take control of this sector and is going to begin to prevent illegal transactions with the cryptocurrency by the end of 2018.