Steem continues to score well when compared to other cryptocurrency projects.

The Chinese Electronic Information Industry Development (CCID) Blockchain Research Institute just released their second ever independent cryptocurrency ratings.

Steem ranked as the 7th best cryptocurrency in existence based on 3 major criteria:

Last month, the CCID released their first ever cryptocurrency rankings and steem was ranked as high as 2nd place.

In fact, the fallout from that ranking is what led to this post:

@jrcornel/open-letter-to-iamjosephyoung-and-ccn-regarding-steem

Unfortunately Mr. Joseph Young has not yet written a piece about steem and interviewed Ned, but I am still hopeful he will.

What criteria are the ratings based upon?

It appears the ratings are broken down into three broad categories:

Technology, application, and innovation.

Steem scored very well in the technology section, but scored poorly in the application section, and slightly above average in the technology section.

In fact, the top 5 in each section go like this:

Technology: EOS, Steem, Ethereum, BitShares, Stellar

Application: NEO, Ethereum, Qtum, Stellar, Nebulas

Innovation: EOS, Bitcoin, Cardano, Ethereum, Litecoin

EOS scored as the best cryptocurrency in the world mostly because of its technology and innovation. The ratings team had this to say about why EOS was their top choice:

"Because of its potential to support commercial distributed applications, [EOS] is considered by the industry to be a typical representative of Blockchain 3.0."

(Source: https://www.coindesk.com/chinas-crypto-ratings-index-puts-eos-in-top-slot-drops-bitcoin/)

Notably, bitcoin scored surprisingly low, coming in at number 17 overall. It was ranked 13th in last months ranking, suffering mostly due to its technology rating.

My takeaways:

This tells me that steem has great technology behind it, which we all knew, but really hasn't been able to do much with it yet.

Which is somewhat surprising considering steemit.com could be considered as mostly successful based on several metrics.

Hopefully when SMTs are eventually launched, we will see some more application for steem.

That being said, steem still ranked as the 7th best cryptocurrency yet it trades with the 35th largest market cap...

Something about that doesn't seem to add up to me, what about you?

Stay informed my friends.

Follow me: @jrcornel