The Global Public Blockchain Technology Assessment Index Updated: Bitcoin Rose to No. 10, and NULS Claimed the Top Spot in the First Ever Community Vote
ACCESS Newswire
BEIJING, CHINA / ACCESSWIRE / August 17, 2018 / Today, during the "Chain Reaction IV" event, China's Center for Information and Industry Development (CCID), the research institute under the Ministry of Industry and Information, released its 4th issue of the Global Public Blockchain Technology Assessment Index (GPBTAI) at the GuangYu Art Museum in Beijing. The ranking of the indexed projects was unchanged at the very top, with EOS topping the list scoring a total of 158.7 points and Ethereum keeping its 2nd spot with a score of 139. Komodo earned 111.3 points in this release, jumping to the third place, while Nebulas and NEO were fourth and fifth respectively. For the first time in the history of GPBTAI, Bitcoin reached the top 10, listed at No. 10 with a score of 101.7.
This index added two blockchain projects to the mix, NULS, and Tezos. NULS is a customizable enterprise-grade service-oriented blockchain infrastructure that is composed of multiple micro-kernels and functional modules. By adopting a modular and multi-chain parallel architecture, NULS strives to enable the exchange of data and value among different types of blockchains and allow for the creation of customizable new chains using NULS modular repository. In a way, NULS ecosystem will become a Blockchain Factory. While the NULS main network went live not too long ago, many of its functional modules are still under development. With that in mind, CCID gave the NULS project an overall score of 88.2, ranking it at No. 21. However, in the sub-category of innovation, NULS scored an excellent point of 15.2, ranking at eighth. The other new project Tezos also has some innovative new features. It is known for its on-chain governance using a self-amending protocol that allows the stakeholders to govern this permission-less public blockchain collectively. Tezos also support Smart Contracts and DApps with its unique code verification mechanism to make the code less buggy. It uses a Liquid Proof Of Stake (different from the widely used DPOS) to achieve consensus. In considering its beta net status, Tezos only scored 81.2 points and ranking at 29. But the project did score a solid 16 points for its creativity, ranking seventh in that sub-category.
The GPBTAI only evaluates public blockchain projects from a technological point of view, it focuses on the soundness of the underlying technology, the creativity, and the applications of each project. The current assessment model hasn't changed since the last release, only data collection and verification methods have been updated. EOS, NANO, and Komodo were the three public blockchains with the most significant score increases since the last issue, while Komodo, NANO, and Bitcoin had the most notable improvement in rankings.
The weight of the technology sub-score in the composite index is 65%; the underlying technologies are being judged for their functionality, performance, security, and the degree of decentralization. In this sub-category, the top five contenders remained the same since the last issue; only the order has changed slightly. EOS, Steem, Ethereum, BitShare, and Nebulas currently has the highest scores.
The application of a specific blockchain project counts for 20% of the final score. The evaluation model considers node deployment, wallet application, development support, and application realization to come up with a score. In this sub-category, the top five finishers are the same as the last release. They are Ethereum, NEO, Nebulas, Qtum, and Stellar.
Innovation, or creativity, makes up the final 15% of the composite score. The number of project contributors, the frequency of code updates, and the impact of a specific codebase are being evaluated for this sub-category. Because code updates in the most recent month change drastically, the scores in this sub-category can vary wildly. Bitcoin's codebase has been updated very frequently in the past month, earning it an impressive score of 40.3, further expanding its lead in this category. EOS, Ethereum, Cardano, and Lisk ranked second to fifth. Compared with the previous release, EOS, Bitcoin, Bitcoin Cash, HCash, and Stratis has the most significant improvement in innovation scores.
GPBTAI only evaluates public blockchain from a technology perspective. An entirely decentralized public blockchain project wouldn't be viable without the enthusiastic involvement of the general public and community members. To recognize the importance of community effort and give "average joe stakeholders" a voice in this assessment process, Shanghai Unifive, the exclusive media partner of CCID Blockchain Research Institute, hosted the first "My No. 1 Chain in the World" public voting event along with "Chain Reaction IV", the debut of the 4th issue of GPBTAI. In the two weeks leading to the final release, Chain Reaction IV received over 30,000 of validated votes from the public at large. The websites had over 50,000 of unique visitors during that period. NULS, the newly added project took the top recognition prize with 12,229 votes. HCash and Cardano came 2nd and 3rd with 9450 and 4060 votes respectively. The key to a blockchain project is consensus, with the impressive execution capability and a great appeal to community members, NULS demonstrated its might in building consensus beyond the technology realm.
