Best Cryptocurrency Projects in China

Best Cryptocurrency Projects in China

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February 24, 2023
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With China and Hong Kong flipping their regulatory stance to be more progressive toward crypto in 2023, many investors are researching trying to find which projects will be the most promising in the Chinese cryptocurrency market. That said, as the industry continues to evolve and expand, it can be challenging to keep up with the latest developments and identify the top-performing projects.

In this guide, we will provide an overview of the 5 best Chinese-based cryptocurrency projects that investors should keep an eye on. Through comprehensive analysis and evaluation, we have identified these top projects based on their technology, team, community, adoption, liquidity, and overall market performance.

  1. Conflux (CFX) - Best Overall Chinese Project
  2. Alchemy Pay (ACH) - Fastest Growing Project
  3. NEO (NEO) - Chinese Smart Contract Platform
  4. QTUM (QTUM) - Alternative Smart Contract Platform
  5. Flamingo Finance (FLM) - Largest DeFi Protocol on NEO
Table of Contents

Best Chinese Crypto Project - Conflux

Platform Highlights

  • Fastest growing Chinese Smart Contract platform for DeFi with $18m in value locked.
  • Large enterprise partnerships including China Telecom to develop a SIM card.
  • Best performing Chinese cryptocurrency in 2023 by price.
Best Chinese Crypto Project - Conflux
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Audited Proof of Reserves
Audited Proof of Reserves

1. Conflux

Conflux is a public, permissionless blockchain platform that was created in China in 2018 by a team of researchers and engineers from the University of Toronto, the University of Waterloo, and the Institute of Computing Technology of the Chinese Academy of Sciences. Conflux uses a novel consensus algorithm called Tree-Graph, which is based on a Directed Acyclic Graph (DAG) structure.

The Tree-Graph consensus algorithm allows for high throughput and low latency, which makes it possible for the Conflux blockchain to process a large number of transactions in a short amount of time. One of the key features of Conflux is its support for smart contracts, which can be written in popular programming languages such as Solidity and Vyper. Conflux has received support from several prominent investors and institutions, including Sequoia Capital, Huobi, and the Shanghai government.

Conflux Smart Contract Platform.
Conflux Smart Contract Platform.

2. Alchemy Pay

Alchemy Pay is a decentralized payment gateway and cryptocurrency payment solution that allows businesses to accept cryptocurrency payments from anyone around the world. Although Alchemy Pay is not a Chinese project, it has a significant presence and roots in China. The project was co-founded by John Tan, a Singaporean entrepreneur and blockchain expert, and Molly Zheng, a Chinese technology executive.

Alchemy Pay has also secured partnerships with several other Chinese companies, including Binance, the largest cryptocurrency exchange by trading volume, and QFPay, a Chinese mobile payments provider. These partnerships enable Alchemy Pay to offer its payment solutions to a wide range of merchants and consumers in China and beyond.

Alchemy Pay
Alchemy Pay - Payments Solution.

3. Neo

NEO, also known as the "Chinese Ethereum", is a public blockchain platform and cryptocurrency that was created in 2014 by a team of Chinese developers. NEO aims to enable the creation of decentralized applications (dApps) and smart contracts on its blockchain, while also offering users a fast and scalable platform for digital asset transfers.

The Neo network has several unique features that distinguish it from other blockchain platforms, such as its use of a Delegated Byzantine Fault Tolerance (dBFT) consensus mechanism, which ensures high levels of security and performance on the network. NEO also supports multiple programming languages, including popular languages such as C#, Java, and Python, making it easier for developers to create dApps and smart contracts.

Neo - Chinese Ethereum
Neo - The Chinese Ethereum.


QTUM is a decentralized, open-source blockchain platform that combines aspects of Bitcoin's blockchain with Ethereum's smart contract functionality. QTUM has strong roots in China, with several of its co-founders and early contributors coming from China. The platform has also received significant support from the Chinese government and investors.

The project has formed partnerships with several Chinese companies, including Baofeng, a leading Chinese video streaming company, and Qihu 360, a Chinese internet security company. The platform has also been recognized by the Chinese government as a key player in the country's blockchain industry, with QTUM's founder, Patrick Dai, being named as one of Forbes China's "30 Under 30" entrepreneurs in 2018.

QTUM Smart Contract Platform.
QTUM Smart Contract Platform..

5. Flamingo Finance

Flamingo Finance is one of the most promising Chinese-based Decentralized Finance (DeFi) platform that allows users to convert assets, provide liquidity, and earn yield through staking. The platform uses the Chinese Neo N3 blockchain and facilitates automated transactions between different cryptocurrency tokens through the use of smart contracts.

Flamingo Finance was initially launched by Neo Global Development (NGD), which is the execution arm under the Neo Foundation. This underscores Neo's vision of building a Smart Economy, with DeFi playing a critical role in that ecosystem. As a Chinese-based project that leverages the Neo blockchain, Flamingo Finance has gained significant traction in the Chinese market, with support from the Chinese government and investors.

Flamingo Finance DeFi.
Flamingo Finance DeFi.

Top Crypto Investments in China

The methodology used to pick the top Chinese-based cryptocurrency projects was a comprehensive analysis of various factors that contribute to a project's success. This involved analyzing each project's team, community, technology, adoption, liquidity, and overall market performance. We also considered the specific focus areas of each project, such as Decentralized Finance (DeFi), Non-Fungible Tokens (NFTs), Smart Contract Layer 1 and Layer 2 platforms, and their potential for growth in these areas.

We utilized various data sources, such as market data, on-chain data, community sentiment, and expert opinions, to rank the top projects based on their overall performance. Through this methodology, we identified the top 5 Chinese-based cryptocurrency projects that are poised for success in the ever-evolving world of cryptocurrency.

Final Thoughts

The Chinese cryptocurrency industry is rapidly expanding, with the government giving its support in terms of investment and development. As more projects gain traction and investors continue to pour capital into the sector, it will be interesting to see what new projects emerge from China's bustling blockchain ecosystem.

As outlined in this research guide, we found that Conflux, Alchemy Pay, Neo, QTUM and Flamingo Finance  are the top 5 Chinese-based cryptocurrency projects that are currently making waves in the industry. Now is a great time to invest and get involved in China's burgeoning blockchain sector.

Adrian Graham

Co-Founder & former Investment Banker (Finance MBA) turned Full-Time DeFi analyst and researcher. Left traditional finance to pursue my interest in digital assets and decentralized finance.

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