Current cryptocurrency ranking in China - page 2.

CryptoBry

sr. member

Activity: 1008

Merit: 355

Quote from: migws on October 29, 2019, 05:14:57 AM

EOS is again the leader in China. This time Bitcoin was in 11th place.
1) Why does EOS have such respect among Chinese crypto users?

This is really interesting. EOS is on top, Ethereum at number 3 and Bitcoin at just number 11. It should be noted however that this is just an opinion of a department of the Chinese government -- China Electronic Information Industry Development (CCID) to be exact -- and as to how they made the ranking that could be subject to some debates. In CMC, EOS is ranked number 7. There must be something with EOS that Chinese are falling in love with. The three criteria used in the rankings are: technology, application, and innovation.

Quote from: migws on October 29, 2019, 05:14:57 AM

2) Recently, the Chinese media resource cctv.com released a reportage about Blockchain and how Bitcoin is based on technology and how it works. Could this affect the change of leader among cryptocurrencies in China, I mean, will Bitcoin be more used in the country?

There is a possibility for that. We know the media and all departments of the government will always toe their line whenever there is that directive from the top. In case, top honchos will decide that it is time to support Bitcoin am sure this ranking will be changed as fast as lightning. That is how China works. they speak the language of their top leader, come what may. In the meantime, a great congratulations to EOS for this unexpected recognition.

teosanru

hero member

Activity: 2114

Merit: 619

Quote from: migws on October 29, 2019, 05:14:57 AM

EOS is again the leader in China. This time Bitcoin was in 11th place.
I have several questions:
1) Why does EOS have such respect among Chinese crypto users?
2) Recently, the Chinese media resource cctv.com released a reportage about Blockchain and how Bitcoin is based on technology and how it works. Could this affect the change of leader among cryptocurrencies in China, I mean, will Bitcoin be more used in the country?

https://cointelegraph.com/news/eos-holds-top-spot-bitcoin-11th-in-chinas-latest-crypto-rankings

As far as I can think the only reason is that EOS has the most swift blockchain and moreover it's also developed in China itself. Chinese are always known to promote things developed in house. Other Cryptocurrencies are innovated outside China. i think EOS and TRON will always be leader in chinese markets.

nienzer

jr. member

Activity: 65

Merit: 1

Quote from: migws on October 29, 2019, 05:14:57 AM

EOS is again the leader in China. This time Bitcoin was in 11th place.
I have several questions:
1) Why does EOS have such respect among Chinese crypto users?
2) Recently, the Chinese media resource cctv.com released a reportage about Blockchain and how Bitcoin is based on technology and how it works. Could this affect the change of leader among cryptocurrencies in China, I mean, will Bitcoin be more used in the country?

https://cointelegraph.com/news/eos-holds-top-spot-bitcoin-11th-in-chinas-latest-crypto-rankings

After the reportage by CCTV, the number of 'Bitcoin' requests in WeChat has doubled. I think this will add popularity to Bitcoin in China

MURONDI

sr. member

Activity: 812

Merit: 257

I want to know why EOS is ranked top in China, I visited the eos site and tried to analyze the cause, maybe because eos has a good concept,
Visi Strategis EOS :
Scalability: More apps, more users
Developers: Better tooling, faster app development
Users: Greater security, less friction
Enterprise: Greater flexibility, better compliance
Although bitcoin is the main crypto, in my opinion, rarely people use it because the transaction costs are expensive and slow.

Haunebu

hero member

Activity: 3178

Merit: 977

www.Crypto.Games: Multiple coins, multiple games

Honestly, who cares? Everyone knows that BTC will always be the king and anyone saying otherwise are simply fooling themselves. There are many cryptocurrencies with far more advanced tech when compared to BTC, but the popularity factor is what matters the most in this case.

The Chinese government just like many other world governments fear Bitcoin and will probably never accept it though they admire the tech behind it which is the sole reason why they appreciate the advanced tech behind EOS etc.

Astvile

sr. member

Activity: 1484

Merit: 276

Quote from: big_daddy on October 29, 2019, 05:18:50 AM

the next interesting asset is on the 2nd place, TRX (Tron)
well, I like those numbers cause I have faith in those projects too, but on the question why they are on the top of the China leaderboard I have no logic answer

China didn't based the rankings by their popularity in the outside of china market but instead they use the ease of using such a coin and it's potential. Maybe EOS and tron are accepted there and more adopted and accepted by people there making then number 1 and 2 on china.

dothebeats

legendary

Activity: 3542

Merit: 1352

There are only small avenues for profit on bitcoin whereas these coins provide a much wider variety of profit sources apart from the token/coin itself. Also, given that bitcoin market is already saturated with tons of traders making a move of their own, it will be harder for the Chinese folks to influence the price of bitcoin and collect profits on the fly.

shark1006

newbie

Activity: 56

Merit: 0

Quote from: ChrisPop on October 29, 2019, 06:11:16 AM

Quote from: big_daddy on October 29, 2019, 05:18:50 AM

the next interesting asset is on the 2nd place, TRX (Tron)
well, I like those numbers cause I have faith in those projects too, but on the question why they are on the top of the China leaderboard I have no logic answer

The thing is that Bitcoin does not have smart contracts or sidechains built upon it. In my opinion that is the reason why it has been ranked lower than shitcoins like EOS, Tron, NEO, etc. As the name of the index implies the rankings assess the technology behind the public blockchain, not their popularity, already built use cases, ecosystem economy or positive evaluation potential. I wouldn't put much emphasis on these rankings, but it is good that we get this kind of analysis. It means the world is interested in these technologies and we might see their implementation sooner rather than later.

I think so. Most likely the reason for dominating these altcoins finds in the technology behind the public blockchain. I wonder which cryptocurrency is most popular as a means of payment in China? If Bitcoin is in 11th place, so unlikely this coin is

ChrisPop

legendary

Activity: 2324

Merit: 1035

Not your Keys, Not your Bitcoins

Quote from: big_daddy on October 29, 2019, 05:18:50 AM

the next interesting asset is on the 2nd place, TRX (Tron)
well, I like those numbers cause I have faith in those projects too, but on the question why they are on the top of the China leaderboard I have no logic answer

The thing is that Bitcoin does not have smart contracts or sidechains built upon it. In my opinion that is the reason why it has been ranked lower than shitcoins like EOS, Tron, NEO, etc. As the name of the index implies the rankings assess the technology behind the public blockchain, not their popularity, already built use cases, ecosystem economy or positive evaluation potential. I wouldn't put much emphasis on these rankings, but it is good that we get this kind of analysis. It means the world is interested in these technologies and we might see their implementation sooner rather than later.

Mandoy

sr. member

Activity: 644

Merit: 264

Aurox

This is a very exciting thing to look at. This topic really piques the interest of many and I also have read that list. China have really made its moves and is really making itself known in the world as one of the countries that have blockchain advantage.But something is bugging me, why is it that EOS is number on where in fact it is relying on Ethereum platform. I also dont know why bitcoin has been left behind in that list.

big_daddy

hero member

Activity: 1680

Merit: 583

xUSD - The PRIVATE stable coin - Haven Protocol

the next interesting asset is on the 2nd place, TRX (Tron)
well, I like those numbers cause I have faith in those projects too, but on the question why they are on the top of the China leaderboard I have no logic answer

migws

jr. member

Activity: 65

Merit: 1

EOS is again the leader in China. This time Bitcoin was in 11th place.
I have several questions:
1) Why does EOS have such respect among Chinese crypto users?
2) Recently, the Chinese media resource cctv.com released a reportage about Blockchain and how Bitcoin is based on technology and how it works. Could this affect the change of leader among cryptocurrencies in China, I mean, will Bitcoin be more used in the country?

https://cointelegraph.com/news/eos-holds-top-spot-bitcoin-11th-in-chinas-latest-crypto-rankings

Topic: Current cryptocurrency ranking in China - page 2. (Read 314 times)