A new Bitcoin (available on Coinbase) ranking has been released, and the BTC position might surprise you. Don’t worry, it’s overall placement is still number one by market cap, but China released a new listing of its top blockchains and Bitcoin (available on Coinbase) didn’t fare so well. Spoiler alert – Bitcoin (available on Coinbase) didn’t even make the top ten.

Bitcoin (available on Coinbase) Ranking By China

The China ElecTron (available on Binance)ic Information Industry Development (CCID) body initially released its blockchain rankings list in May. On the original list, Bitcoin (available on Coinbase) (BTC) hadn’t made it into the top ten either, but it was close, coming in at lucky number 13 (the original list gave a three-way tie between Bitcoin (available on Coinbase), Verge [XVG], and Waves).

Unfortunately for Bitcoin (available on Coinbase), when the CCID updated its blockchain rankings, the Bitcoin (available on Coinbase) ranking was pushed back even farther. In China, Bitcoin (available on Coinbase) is now ranked as the 17th best blockchain, hardly a gold star rating. (Verge moved down as well – to number 20 – but Waves actually moved up to number 11.)

How Do You Rank a Blockchain?

A lot of different factors need to be considered when attempting to rank blockchains, making the process no easy feat. Blockchain networks can be vastly different, with different elements and different goals that need to be considered, so it can be a bit tricky to compare blockchains. Certain blockchains are so different from one another that it would be silly to compare them.

Among the most important things to consider when judging a blockchain network include its smart contracts, token, security, scalability, and more. Really, it’s a lot of stuff to mishmash togETHer to come up with a ranking, and when thinking in terms other than market cap, blockchain rankings will no doubt vary considerably depending on who’s doing the ranking and what factors they are judging.

The CCID Ranking Breakdown

China’s ranking took into consideration technology, application, and innovation, which is a pretty fair breakdown, but there’s still no information on how exactly the CCID judged the blockchains.

Bitcoin (available on Coinbase) was given a 41.6 for technology, 14.9 for applicability, and 35 for innovation. Its overall index from the CCID was 91.5.

Do you think Bitcoin (available on Coinbase) should have received a higher ranking?