Steem just received some high praise from an unexpected source!
In a report out this morning from the Chinese Government, it was revealed that Steem was ranked second out of all the blockchains in the world.
Right behind Ethereum.
A sample of their rankings can be seen here:
(Source: https://www.ccn.com/china-ranks-ethereum-as-the-worlds-best-blockchain-network-bitcoin-at-13/)
Not only did steem score as the 2nd best blockchain on the planet but it got the highest overall score in the "technology" section.
A section that bitcion did very poorly in by the way.
As you can see, steem didn't receive a very high score in the application section. If that were higher steem had a shot of being rated as the number 1 blockchain overall in the world.
This marks the second independent rating that steem did very very well in.
The previous one can be found here:
Given the recent high ratings for steem, it is a wonder why steem still tends to languish in the 32nd position on coinmarketcap.com.
Look way down this list and you will see what I am talking about:
(Source: https://coinmarketcap.com/)
In both independent ratings, Steem landed in the top 5 yet its market cap places it as the 32nd most valuable coin.
Something about that doesn't seem to add up.
Either the market isn't properly pricing the steem project or the ratings agencies are rating it way too high.
I am thinking it is most likely the first one. As price discovery eventually takes place in the space I would imagine steem's valuation will more accurately reflect it's ratings.
Right now promotion and excitement tend to rule the roost in terms of valuations and steem hasn't been promoted to the degree of some of the projects ahead of it.
Until price discovery eventually happens, it's probably a good idea to accumulate steem.
Stay informed my friends.
Follow me: @jrcornel
The rating of EOS would have been interesting, but as it is not yet running on its own chain, it doesn't appear in the ranking.
Anyway, these are positive news again for STEEM.
Apart from that it shows that the Chinese government is still following the crypto market very closely. I guess they will either develop their own coin or finally support one of the Chinese solutions which are already available, like for example NEO or YOYOW.
Gotta love those Chinese! And their food too 👍🤪👍
I do love me some good orange chicken!
well the chinese have to pay a high price for the electricity waste of bitcoin, they cant be friendly on it.
That is a very good point. It scored very poorly in the technology section. I would imagine that is part of that.
Plus they're sitting on a stockpile of USD. They'd rather other things be disrupted before currency.
Much of that in the form of U.S. Treasuries. I would not be at all surprised to see them slowly unwind that position. Maybe not by dumping them and causing a bond collapse, but rather by just not buying a bunch more and letting what they have mature.
I don't think it's either of these actually. I think it's that the market is improperly pricing almost all of the other top 30 coins.
There is no reason that many of those should be worth even close to the amount they are currently trading for. I suspect the high prices are mostly due to market manipulation.
Yes, that is what is meant by that statement. If steem is valued accurately then many of the others ahead of it are not. Most likely due to promotion, manipulation, etc.
Agree. If you go down the list, so much of the market share is things trying to be a better Ethereum or forks of Bitcoin (or things that work the same as Bitcoin like Litecoin). There's no point to most of it.
I could easily be missing one or two because I don't know what they are, but within the top 30 it seems like really only Bitcoin/Ethereum/Monero/Steem have a point to them, like you could weed the top 30 down to the top 4.
Neat that China gave a shoutout to Steem. But loll that Bitcoin would be that low, below the likes of Lisk and Komodo and Stratis and Cardano, lol that's cute.
Edit: Kind of want to add that I'm not trying to single out Lisk/Komodo/etc as being any more bad than the other ones on the list. Just kind of randomly picking those examples, all of them are ridiculous to put ahead of BTC.
Agreed, no one uses cryptos as currencies. All that volume comes from trading. Unless tax code in US is changed it wouldn't even make sense to use them as currencies. Who wants to track and pay taxes everytime you make a purchase
that's a very good point... cart before the horse with excitement
Well the technology may be good but the awful distribution and the power on the platform wielded by those with large stakes can't be ignored. That is the main reason why the steem price is so low imho, Steem is closer to Ripple than to Ethereum in that sense.
Wow, very cool! STEEM will change the world!
The market looks at Steem as a scam because of the transparency and the 80% Steem coin pre-mine. Once we get some more development and SMTs we'll be in the top 10 for sure.
There is probably a lot of truth to that.
This doesn’t give any reasoning for the ratings. That may explain why Steem scores so highly. EOS doesn’t feature and it should be well into the top 15, but as it doesn’t actually exist yet that could explain things.
Yep, how do you rate a blockchain that isn't actually running yet?!
Agreed. Maybe it will be up there in the next report!
Steem is in the 32th postion due to the Steemit user. We have one million user till now. Let the number growing. We can expect huge price hikes of steem
The fact that XVG is rate at #14 kind of kills my hype for this rating system.
Why is that?
Privacy coin with very little privacy outside of tor. Copy and paste stealth code from 2014 and already proven to be outdated. Unstable blockchain.
That is good news Jrcornel
Steem to have better technology than bitcoiin.
Also wondering why the coin still performs low.
I have started following you up here in uganda
That is good news especially for us promoters.
Will always catch with you
wow this was unexpected, despite China banning crypto but China did also finalise the statement that steemit is growing and ranked the 2nd best blockchain in world, this will help steem grow as China is a huge country and also developed..
this will make Chinese government to lift ban over crypto and will be legalised finally...
Yea I am not sure exactly what that ban meant. I think they just banned the centralized exchanges. I think people over there can still own cryptocurrencies, but I could be wrong?
i really don't know i have only heard that China did ban crypto, I'm not sure about owning a cryptocurrency as i belong to India, the government here did ban crypto too 😑
That's not true. The Reserve Bank of India is not the government. Cryptos are not banned in India.
Steem is solid! Great investment and glad to be able to accumulate more daily on Steemit. Seriously happy with that!
steem will go up
That is great for steem blockchain but recently there's a rank that talked about steem technology to be poor, so let us focus more on the technology. God bless steem team
Well that is indeed wise and as of the efficiency and the use of Steem is much more effective that might be the reason.Well looking forward to it in the coming days , no 1 is the target ;)
They dont have ltc in the list, so i dont trust that list
It's in the 16-28 range at the bottom of that graphic. Looks like in about the 21st position.
Etc and bcn are above ltc. Wow.
Yea that it interesting. Wonder what they disliked about ltc so much?!
Great to read this, no matter which country but once it is announced by the Government then it reflects that, particular project or platform really performing well and this listings and praises can possibly reflects in the boost of prices in future. And in my opinion this is the case where everything is falling at right place means, yesterday we attained the 1 Million user accounts and that's an great milestone, Steem at consensus, and now this announcement of Chinese government. Let's hope for the best and exciting times ahead. Thanks for sharing this post with us and wishing you an great day. Stay blessed. 🙂
Interesting to see application so low given the ecosystem that STEEM has created with still more bandwidth to expand available. Given the crossroad between being in the blockchain evolution and the social media revolution, STEEM should be great in the future!
If Steem could score a bit better on application it could be top, but this is good anyway. We need more places to spend our Steem
It's funny how bitshares got only 7 for innovation. And even funnier, nobody on steemit buying steem and powering up but rather participate in all kind of ICOs and scams.
Hopefully that changes eventually. As ICOs get cleaned up it should help the existing legit projects attract some capital.
you got good point brother! but i think steem will change it's rank very soon in coinmarketcap! ^_^
up or down?
up obviously!
Where is EOS??
Blockchain hasn't officially launched I don't think.
Accordingly, steemit will be the best social network of the future
It has a lot of things to work out currently, but that sounds good to me. :)
The rule of thumb was if China doesn't like it, it will succeed; but now ... - well it has a lot of the good ones ranked highly.
Well, it's not a surprise. Let's give it another year and it will be on top 1 haha! I have the strong feeling we'll reach the top sooner than we expected.
Congrats dear STEEM on this achievements.
The price valuation of STEEM should be revised.
STEEM Kkeeps getting popular by the day but the price ranking of it keeps going forward and backward.
Anyways like you said, this is an opportunity to gather more STEEM
2 great news on the same day.
the first steemit reaching the mil stone of 1 Million users and now steem is on the 2nd number.
congratulations @jrcornel.
An immensely inspiring and confident imitation to be a future ruler of the world, this is the beginning of Steem's success in mastering the world's best global market blockchain and future. An honor to read all your posts @jrcornel
How much trust do you have today?
maybe we do not believe in the achievements that we feel today but this is the reality that we feel right now, praise is a tremendous reward for the current steem that is able to dominate the global market, this is a tangible proof that has been done with the consistency that makes steem deserve to be ranked second in the world.
How does a steeminial Friend look steem ahead?
Steem's belief is to show something very special felt by investors who continue to make steam the right place to get great results and this belief will make steem the ruler of the planet and the whole world will be close to steam.
How is Steem ready for the future?
Steem is not just waiting for what's happening right now, steam readiness continues to be a priority reference and applications are constantly being created for ease with ideas and imaginations and professionals making steem going first.
Conclusion
Steem confidence is the beginning of success to dominate the global market, and we will be the winners.
Thank you @jrcornel has given something very meaningful to the whole world community.
See you on the top
Yupiiiii
Goods news
Saludos y Gracias por la información
China has Social Ratings for everything (and everybody), it seems. Totalitarian much?
Steem 2nd, Bitcoin 13th... Pretty fair :)
I've been warming up to the Chinese for quite some time now. (-:
Very good to hear that. Steem is the second best bitcoin in the world. It also has the capabilites to come to 1st place as it stand at 1st place in some section i.e technology. But feeling bad about the rating according to the agencies. They should be more accurate and focused and doing so. Great news to hear from you. Thanks and upped.
Plis follow back @caspersteem and upvot yes 😢
Thanks for sharing this great information and I'm quite sure steem will rank no.1 if Chinese economy take some more interest.
I think the market has a pretty accurate indicator that we have much work to do in terms of encouraging quality content, cutting down on bots, spamming/scamming/multiple accounts, and making a rewards system reform that encourages much higher retention rates and that is not quite so "top heavy."
Still, this shows the AMAZING POTENTIAL of this platform. All we need do is clean it up a bit, and...TO THE MOON!!!
Good technology may be good, but the ability to deliver horizontal distribution and large platforms of the platform can not be ignored my friend @jrcornel
Despite China's crypt ban, it was unexpected but the Chinese statement has been finalized that,
This will lift the ban on the Chinese government crypto and will eventually be valid ...
#resteem
Steem, one of the best Dapp i ever seen
Muy buena información, sin duda hay que estar bien informados de este nuevo esquema económico que esta surgiendo a través de tantas plataformas me alegra estar en @steemit para ir aprendiendo de ello.
Hey thanks for updating. I heard about the possibility of the rating, however there wasn’t too much info out there about it last week.
Was just talking about this with Dan and then boom saw the news!
Great news!!! Lol
I’ve also often wondered why Steem is so far down the list when it’s one of the most distinctive Blockchains ! Hopefully that will change in the near future.
It is a good idea to do what you say. accumulate steem to wait for the rise of the currency. to the steem to be in the number 1 what you need is to have more value overcome the barrier of 3 dollars and raise to 10 dollars there steem will displace ETH.
Its good news for all steemians. keep rocking.
Its great being one of the member of such a system, thanks for the uplifting post
so so awesome!!! glad to be here on steemit
cheers @jrcornel
Hello, I have followed you and got votes on Steemit, be kind enough to follow me. Let's create a great community. Thanks & Best Regards
aha its pretty funny that they see it better than neo
The rating of EOS would have been interesting, but as it is not yet running on its own chain, it doesn't appear in the ranking.....