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Nebulas in the Top Three of MIIT's Public Blockchain Evaluation list

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Nebulas in the Top Three of MIIT's Public Blockchain Evaluation list

PR Newswire

Nebulas has ranked third on the China Center for Information Industry's (CCID) latest index for the world's best public blockchain platforms. An initiative supported by China's Ministry of Industry and Information (MIIT), the CCID Global Public Chain Technology Evaluation measures top blockchain platforms according to their technology, applications, innovation, and is regarded as an authoritative reference for the blockchain industry.

SAN FRANCISCO, July 23, 2018 /PRNewswire/ -- Last week (July 20, 2018), the China Center for Information Industry Development (CCID) Institute of Blockchain Research under the Chinese Ministry of Industry and Information Technology (MIIT) published the results of their third-phase technology evaluation of global public blockchain projects. Nebulas ranked 3rd on the index with a total score of 108.8.

The CCID Research Institute mainly evaluates three dimensions of a blockchain project, including technology, applications, and innovation. Thirty-one of the world's most influential public blockchain projects were evaluated across these three categories.

According to the CCID's latest results, Nebulas performed strongly in all three evaluation categories, being ranked as the third-best blockchain platform worldwide.

Compared with the second phase evaluation, Nebulas made important progress, rising from sixth place to third place. Commentators attributed Nebulas' stronger performance this time around to its unique and innovative technology.

Nebulas is a next-generation public blockchain, aiming for a continuously improving ecosystem. The platform embraces unique value measurement algorithms, ranking the quality of entities in the blockchain world, providing a similar function as traditional search engine algorithms. Moreover, Nebulas features future-oriented incentive and consensus mechanism, as well as the ability to self-organize and evolve without hard forks. These features help to bolster the sustainability and future growth potential of the platform.

The Nebulas mainnet (Eagle Nebula 1.0) is also the only public chain using LLVM compiler technology, enhancing the extensibility of its blockchain platform for technological development. In addition, Nebulas owns a stable and secure system, with a transaction ability of 2,000 transactions per second (TPS).

The CCID Blockchain Research Institute's view is that public blockchains and dApps (decentralized application) will play an increasingly important role within society, and particularly in business. Their latest evaluation model has been updated, so that public chains with smart contract functions receive higher scores. Additionally, the new model also takes into consideration the quantity of dApps hosted on a blockchain platform.

Currently, Nebulas has more than 6,000 dApps running on its mainnet, due in large part to the Nebulas Incentive Program. This figures means Nebulas is the blockchain platform with the greatest number of dApps, surpassing Ethereum.

As the global blockchain space continues to grow unabated, China is paying increasing attention to technical innovation within the industry, and its government has signaled its support by continuing to release favorable policies.

The CCID Global Public Chain Technology Evaluation is one of the world's first blockchain evaluation index released by a government organization. This evaluation is seen as an authoritative reference for the blockchain industry in China, and is part of the government's intent to promote the growth of blockchain.

At the moment, CCID is not accepting public applications from blockchain projects for inclusion in the evaluation program. Therefore, the blockchain projects selected for review thus far been selected at the discretion of the Public Chain Technology Evaluation Team. However, CCID is expected to open applications to the public in August, giving all blockchain projects a chance to be evaluated.

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