Abstract : Zhao commented that CMC's three rankings confuse users, and a simple measure should be used as a short-term solution.
Zhao Changpeng, the CEO of Binance, published an article on the Binance official website yesterday, explaining the latest update of the cryptocurrency data website CoinMarketCap (CMC) that Binance acquired last month.
He said that CMC initially planned to resolve the problem of exchange ranking and trading volume cheating within a month. "The plan proposes a method of combining upgraded liquidity measurement standards with web browsing".
But he thought that this method was "too slow", and he should "find a simpler solution within a week."
Zhao commented that CMC's three rankings confuse users, and a simple measure should be used as a short-term solution.
He revealed that the CMC team later informed him that the three rankings would be combined into one, using web traffic elements. He didn't know the details of the calculation using the web traffic element. Since then, CMC has released specific practices for upgrading.
As ChainDD reported before, on May 14th, CMC updated the exchange ranking and added a network traffic indicator to the new ranking calculation.
This indicator considers a number of data factors, including page views, number of independent visitors, bounce rate, service time, relative ranking, and keyword search on major search engines.
According to the new algorithm, Binance ranked the first, which caused the outside world to question the independence of CMC.