Steem ranked second according to a ranking made by the Chinese government's rating agency

As expected a few days ago, the rating agency created by the Chinese government has released its first cryptocurrency ranking. Ethereum, Steem and Lisk take the podium followed by NEO. Bitcoin is ranked 13th out of 28 listed cryptos.

China's Ministry of Industry and Information Technology is committed to classifying blockchain projects in a monthly report. Announced only a few days ago, the first ranking has just been published.

Although the exact methodology is still not disclosed, several details give some clues. According to the table above, the rating took into account the sum of three factors: the technological base, the applicability and the innovation.

This is how Ethereum finds itself in first place, driven by its technology base score of 80.3. In second position Steem arrives, with a technological base making him gain 82.6 points against only 9.4 in applicability.
Bitcoin has the highest score in innovation, with 35.6 points, but is limited by its technological base.

However, this ranking is quite curious. First, we know very little about the application of the three factors. The technological base can certainly be understood as the solutions that the blockchain can bring, certainly. But what about applicability? Should not they rather look at the current adoption? As for innovation, Bitcoin has certainly brought the first blockchain but it is limited by its scalability. NEO, for example, proposes writing smart contracts in any computer language. Yet he only got 7.3 points in this category.

Finally, the ranking compares Bitcoin, Monero, Verge or Litecoin with blockchains used to deploy smart contracts. These decentralized digital currencies are only an alternative to fiat currencies, so the tokens of other projects have an additional function. It's like comparing the dollar to javascript.