Nomics, the cryptocurrency data company, in partnership with Nexus, implements algorithmic classifications of crypto wallets, lenders, custodians, tax services and over-the-counter services. It is planned to eventually extend these rankings to all product categories in the crypto space, including the media.
According to the Nomics CEO Clay CollinsThe same algorithm applies to all categories without manual intervention, which should make the ranking more objective. Each entity receives a reputation rating based on social media activity and the links of the websites. The exact recipe will not be released to avoid tampering.
This blind algorithm often gives interesting results. Nexo tops the cryptocurrency credit line rankingwhile his rival Celsius Network is 25th.
Collins assured Cointelegraph that This is not due to an intervention and that can probably be explained by the fact that Celsius Network only offers a mobile walletLeave your website as the basic landing page.
In a recent interview with Cointelegraph, Celsius CEO Alex Mashinsky claimed it was a conscious decision, because it enables the company to reduce a potential cyber attack vector.
Collins said that Nomics publishes the ranking of two other product categories every week. He wants this ranking to become the “US News World Report” of the crypto world.