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China's Cryptocurrency Rankings

China’s Cryptocurrency Rankings | EOS Comes Out on Top

EOS still maintains the top spot in China’s cryptocurrency rankings list. The superpower updated its list last week, proving that EOS is still the favorite. Bitcoin has climbed up three places and now sits in 12th position.

Considering Bitcoin is up 10% to press time and approaching the $9k mark, its a wonder why it hasn’t ranked higher on the list. Well here’s why:

China’s Cryptocurrency Rankings

The rankings list assesses three criteria: technology, application, and innovation.

The top five were as follows: EOS, TRON, ETHEREUM, STEEM, and ONTOLOGY.

Despite the original cryptocurrency Bitcoin being the leading coin by market cap, it only managed to place in 12th. It scored well for creativity but lacked in basic technology.

The rankings are funded by China’s Ministry for Industry and Information Technology and were released by the Center for Information and Industry Development.

Moving forward, the body plans to update the list once every two months instead of monthly.

Eos has held the top spot since June 2018, while Tron has managed to stay in second place since February 2019.

Crypto’s In Green

The entire cryptomarket is experiencing double-digit gains today. China’s cryptocurrency rankings favorite, EOS is up 17.67% and selling for $7.45 per coin.

As stated, Bitcoin is holding firm above $8k—it is currently selling for $8,863 and up 10.87%.

The original cryptocurrency has been on a continued bull run this month. May has seen it pack on whopping gains of 65%.

Will The Gains Continue?

Recently, Bitcoin enthusiast and crypto fund manager, Brian Kelly, spoke to CNBC’s Fast Money and predicted that Bitcoin price will continue to rise. One reason for this is the approaching “halvening” that will see Bitcoin mining rewards cut in half. The halvening won’t happen until 2020, but until then, miners are expected to hoard BTC and this increasing demand will see Bitcoin price rise as the supply becomes lessened.

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Of course, Bitcoin remains as volatile as ever. Only one day after the coin passed the $8k mark, it plunged 10% back to $7,200 USD. While it has indeed paired those losses once again, never become too comfortable in this market. Another major dip is easily around the corner, especially if Bitcoin has been on an extended bull run.

What do you think of China’s cryptocurrency rankings list? Is EOS your favorite?

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Ontology Main Net Launch | Ontology (ONT) Prepares for Lift Off

Ontology main net launch: Ontology (ONT), the 19th largest cryptocurrency by market cap, is just three days away from its main net launch.

The Shanghai-based project has been slowly climbing the charts the past few months, as it sat in the 27th position nearly three months ago.

Ontology is a blockchain platform that is designed for business. Started back in 2017 by the company Onchain, Ontology seeks to help businesses integrate blockchain technology into their current infrastructure.

Ontology’s website reads:

“Ontology blockchain framework supports public blockchain systems and is able to customize different public blockchains for different applications. Ontology supports collaboration amongst chain networks with its various protocol groups.”

Ontology (ONT) New Collaborations

Last month, Ontology announced that it would be joining forces with NEO – another Chinese-based blockchain project. The two projects signed a Memorandum of Understanding (MoU) and will be co-funding a ‘Joint Task Force.’

This task force is set to focus on the development of a sharing ecosystem of smart contracts and cross-chain technology innovation. Both NEO and Ontology hope this new collaboration will result in both projects becoming more “friendly to end-users.”

Ontology also announced another huge partnership a few weeks ago with a transportation blockchain project named CarBlock. According to its website, CarBlock is the first blockchain-based transportation solution that seeks to lead to easier handling of dealerships, maintenance, auto insurance, and automotive reports.

Ontology Main Net Launch: All Systems Go

Everything seems to be running right on schedule for the Ontology team. Yesterday, the project held its pre-launch party in San Fransico and announced Ontology 1.0 would be released on June 30th.

Ontology’s Founder, Jun Li, spoke at the pre-launch party and said:

“Ontology has always adhered to a ‘real economy’ strategy, through the effective combination of Ontology and various industry partners, to bring more real business application scenarios and create more innovative solutions. Ontology 1.0 could not have been created without the high degree of cooperation and support of all technical teams, partners, co-builders, and industry experts. We look forward to joining hands with more industry partners to create a brilliant future together!”

At press time, Ontology (ONT) is trading at $5.34 a coin, down -1.95%.

Are you excited for the Ontology main net launch?

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Ontology CarBlock Partnership | ONT Entering the Automotive Industry

An Ontology CarBlock partnership is forming, as Ontology decides to dip its toe into the automotive industry and join forces with the transportation blockchain CarBlock.

Ontology CarBlock Partnership

CarBlock is, according to its website, the first blockchain-based transportation solution that will eventually lead to easier handling of auto insurance, maintenance, dealerships, and automotive reports.

According to the Ontology press release that was linked from its Twitter, the agreement between Ontology and CarBlock will allow both companies to “collaborate in core technology, integrate business resources, and cooperate in community operations.”

As a part of the agreement, CarBlock will create a transport data platform that combines “Ontology’s chain network model with CarBlock’s intelligent hardware and IoT solutions to efficiently and fairly circulate vehicle data within the ecosystem.”

The platform will be made based on blockchain technology and “intelligent hardware” from a network of vehicle information.

The Founder of Ontology, Jun Li, has said that they “are very pleased to cooperate with CarBlock to connect Ontology’s distributed infrastructure and services to more application scenarios as part of [their] real economy strategy.”

Jun Li believes that the partnership could lead to an overall enrichment of the Ontology ecosystem.

In regards to the agreement with Ontology, CarBlock Founder Jia Li has said:

“We recognize Ontology’s technical accomplishments in public chain development, linking resources of ecosystem application partners, and dedicated support from partnering technical teams. CarBlock is the fastest growing blockchain application in the automobile industry with the most abundant industry resources. We will be using our position to promote the Ontology ecosystem and help Ontology provide more diversified industry solutions.”

CarBlock hopes to enter the US automotive market to create a new smart contract transport ecosystem.

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Ontology (ONT) Update

Ontology (ONT) has been selling at approximately $6.56 USD, up nearly 1.68% within the past 24 hours.

Ontology CarBlock partnership
Source: CoinMarketCap

How well do you think this partnership could benefit Ontology?

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