Ethereum (ETH) Takes First Place on the Chinese GOV Blockchain Ranking
The crypto-market took a critical hit when the Chinese government ordered a complete ban on all digital currency-connected activities. All coins, starting from Bitcoin and all of its follow-ups, were under target in the termination which vibrated the crypto-verse basement strongly. Many theorized that this is coming as a way to issue a digital form of the Yuan, but that has still not taken place.
Ethereum in the Ranking
The Ministry of Industry and Information Technology in China has released the crypto-rankings that the Chinese authorities just rated. The second in lead by market capitalization, is first in the assessment index because of the smart contract potential that Ethereum delivers.
4/ Detailed scores of the first crypto ratings by CCID Research, China's Ministry of Industry & Information Technology pic.twitter.com/7LiJIWokge
The platforms were evaluated by the potential of accomplishment, the availability to the user and the application or utilization of each.
The ratings could support the idea of many cryptocurrency enthusiasts who believe that Ethereum will be taking over Bitcoin’s lead. This [as many believe] will come because of its functions and qualities. Rover Ver or The Bitcoin Jesus thinks in the same way.
Roger Keith Ver, also known as ‘Bitcoin Jesus’, is an early investor in Bitcoin and Bitcoin related startups. Born and raised in America, he has since moved to Japan and has been a prominent supporter of the use of bitcoin.
“I see it happening, and I believe it’s imminent. Ethereum could overtake bitcoin by the end of the year and bitcoin cash could do the same before 2020.”
According to him, by the end of the year the much anticipated flippening could take place. Flippening is a term that has caught on in the crypto-verse that defines the act of one or more altcoins, no longer riding on the back of Bitcoin in terms of deriving market value from it. It marks the end of the dominance and special status of one coin in the form of market capitalization and popularity.