The 11th iteration of CCID Research Institute’s public cryptocurrency ranking puts EOS, Tron, and Ethereum at the top, leaving Bitcoin at no. 15. The Global Public Chain Technology Evaluation Index evaluates technology, innovation, and application of 35 of the biggest public blockchains. Interestingly, all the top three chains are the hotspots of decentralized application (dApp) activity.
Ranking Chains in a Bear Market
The bearish market in cryptocurrencies has created troubles for public chains. The CCID evaluation shows that the code update activity has decreased by a sizeable percentage, but there is no gap in innovation growth. Big tech is still interested in the use of decentralized ledgers. IBM alone employs 1500 developers on over 500 blockchain-based projects. NYSE owner Intercontinental Exchange is also getting ready to launch its new platform with Bakkt this year while Facebook is planning to launch its own stablecoin.
EOS and Tron are emerging as the winners in testing times alongside Ethereum as they are driving both blockchain usage and application. Tron has the most used dApp in the world boasting of 7800 daily users. However, Ethereum takes the lead as the platform supporting the highest number of dApps, i.e., 1374. EOS and Tron are far behind in this race at 314 and 135 dApps respectively.
Problems in the Chains
EOS earned 155.7 points on the index while Tron and Ethereum received 146.7 and 142.8. It is important to note that Ethereum recently completed a hard fork and is on its way to adopt newer consensus modules while the top-ranked EOS has been facing issues with its delegated proof-of-stake consensus and a $7.7 million hack. It should be noted that this chain’s rankings were boosted significantly by its scores in ‘basic tech’ evaluation. For the next two criteria, it is Ethereum that tops all other chains.
Bitcoin was ranked no. 15 by the CCID with just 99.4 points. The most valuable blockchain in the world was aced by the likes of NEO, Waves, Steem and Stellar. Cardano, Ripple, and IOTA were placed further below the rankings.