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Ethereum is the number one public blockchain in the cryptocurrency sector while bitcoin, the original digital currency, is ranked 13th, according to the Chinese government's first monthly Global Public Chain Assessment Index published on Thursday.
The index was made and released by the China Center for Information Industry Development, has 28 blockchain projects with their corresponding cryptocurrencies and will be updated monthly. Blockchain is the technology behind cryptocurrencies. It is a shared database that is maintained by a network of computers linked to the internet.
The department reviews the technological capability, usefulness of the app and innovativeness of the project.
The cryptocurrency sector currently has over 1,500 digital currencies, with total market value of almost $380 billion, according to coinmarketcap.com.
Ethereum, with a currency called ether, received a total score of 129.4. Ethereum has become the basis for majority of initial coin offerings. Start-ups mint their own digital currencies in ICOs to sell them to shareholders to raise financing for their projects.
On the other hand, Bitcoin, which has founded 10 years earlier, garnered a rating of 88 and placed at No. 13.
Steem, Lisk, NEO and Komodo blockchain projects held the second, third, fourth and fifth place respectively, receiving 115.9, 104.8, 103 and 101.5 separately.
Bitcoin was last trading at $8, 153.39 while Ethereum slumped 1.4 percent at $689.62.
