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Should you havent run into no less than a handful of folks that are cynical about the condition of the blockchain industry and think its mostly scams and vaporware, well you probably havent been into crypto for very long.
We researched the very best 100 cryptocurrencies (by market cap) in an effort to learn how many of these actually had working products which are providing real worth. The identical research done in 2017 may have yielded some truly discouraging benefits however, even now, the results arent just stellar.
Before we discuss the results with you, its important to define what exactly constitutes a working item in the first place.
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Considering that blockchain projects are open-source, building a fundamental blockchain and launching it isnt a very large bar to set. We wanted to be somewhat more rigorous with our criteria.
When researching this article, we assessed each endeavors standing, looked at its roadmap, checked its launch history, and compared finished features to what the group promises to deliver in the future.
A working product is active and accessible to the public. Its mainnet has likely been published for some time, bumping the version numbers well above 1.0. Businesses and individuals use it on daily basis for dapps, smart contracts, or digital currency transactions.
There are many jobs in the top 100 who have launched their own mainnet, and can claim to have a working item with a loose definition. But, we have chosen not to include jobs which arent actually being used by any significant step, which means that most of the recently launched mainnets will not yet meet our standards. .
In other words, the mere existence of a product does not necessarily mean that the product is working. After all, is a foundation doing any job when there is no burden on top of it Likewise, a dapp platform which has a mainnet but that doesnt have any noteworthy dapps on top of it isnt considered working by this criteria. .
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No doubt many people will read through this listing, find their favorite project is missing, and then leave a comment, weblink What about XYZ job!! We welcome this feedback, as its entirely possible that a few jobs have stronger user bases than indicated in the prevalent documentation about them.
But should you think that we made a mistake, we ask that you provide sources backing up that claim so we may assess its validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, which were originally on this listing, have been removed as they do not meet the standards outlined previously.)
Bitcoin is the cryptocurrency that began it all back in 2009, after the worldwide financial crisis and subsequent bailouts of banks abandoned many people disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Now, Bitcoin is being used for peer-to-peer payments across the globe. More than this, though, it is leading the way towards a future in which financial technology is trustless, secure, resilient, and censorship resistant. Without Bitcoin, this record would not exist.
The platform that brought smart contracts into the blockchain, spurring a minor revolution in the cryptocurrency ecosystem. Before Ethereum, Bitcoin and its transaction-oriented design was the central focus of the majority of blockchain projects.
Vitalik Buterins Ethereum whitepaper was released in late 2013. The job itself was announced January 2014, using a crowdsale the following July. The system went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain jobs have embraced Ethereum as their main smart contracts stage.
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Current banking infrastructure has failed to grow in the 21st century, such that it still takes 3-5 business days on average to get an international transfer to be processed. With just 4 second transaction times and in a fraction of the expense of a cable transfer, Ripples working product is currently impacting the banking sector. .
The big knock against Ripple is that its native token, XRP, is completely unnecessary. Indeed, driving adoption of Ripples banking solutions is much simpler than getting real life adoption for XRP.
In case youre interested in seeing a discussion about the way XRP adoption will happen, you may find that this reddit thread worth a read. Meanwhile, all people will just have to wait and see whether XRP adoption plans ultimately come to fruition.