Recently, the Chinese government formed the rating index for the blockchains of cryptocurrencies. In that, each and every blockchain powering the cryptocurrencies was listed according to its rating. Ethereum is the topmost cryptocurrency blockchain in that ranking index. It has even outranked Bitcoin.
The index was created by Ministry of industry and information technology. The total score of Ethereum was 129.4. On the other hand, when you look at the total score of Bitcoin, it is only 88.1. It only bags to the 13th the spot. This clearly indicates that Ethereum is much better then Bitcoin when it comes to the usage of the blockchain. Also, many cryptocurrency enthusiasts think that after this ranking, Ethereum will increase in price significantly. They think that by the end of this year, the market cap of Ethereum will also be much higher as compared to Bitcoin. However, it is not certain whether Ethereum will rise significantly or not.
One thing is for sure that the blockchain of Ethereum is much more widely used. It is used in various ICO applications. In addition to various ICO applications, it is also used for decentralized applications as well. This is the reason why it is so widely used. Moreover, Ethereum developers are currently working on providing it with proper scalability as well. If indeed, it gets proper scalability, it will become much easier for the developers to use the Ethereum blockchain.
The worrying news, however, is that Bitcoin is not 2nd but it is directly ranked at the 13th the sport. There are plenty of cryptocurrency based blockchains which are ranked in between like Steem, Lisk, and NEO. This clearly indicates that when it comes to blockchain of the cryptocurrencies, Bitcoin is not at the forefront. Even though it is the pioneer when it comes to cryptocurrencies but it is not at the forefront when it comes to the usage of the blockchain.
It remains to be seen whether the global findings are also the same or whether it is just the observation of the Chinese Ministry as to whether the blockchain of Ethereum is much better as compared to Bitcoin as well as many other cryptocurrencies which are on offer. One thing is for sure that the good times are here to stay for Ethereum holders. They will be able to certainly reap the benefits of the higher ranking of Ethereum. It remains to be seen whether, in the coming months, the price of Ether will proper due to this ranking by the Chinese Ministry.