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Should you havent run into at least 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 quite long.
We researched the top 100 cryptocurrencies (by market cap) in an attempt to learn how many of them really had working products which are providing real worth. The same research done in 2017 may have yielded some truly discouraging benefits but, even now, the results arent just stellar.
Before we discuss the results with you, its important to define what exactly constitutes a working product in the first location.
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Considering that blockchain projects are open-source, building a fundamental blockchain and launching it isnt a very high bar to set. We wanted to be a bit more rigorous with our standards.
When researching this article, we assessed each endeavors standing, looked in its roadmap, assessed its release record, and compared completed attributes to what the team promises to deliver in the future.
A working product is active and accessible to the general public. Its mainnet has likely been published for some time, bumping the version numbers well over 1.0. Businesses and individuals use it on daily basis for dapps, smart contracts, or digital currency transactions.
There are many projects in the top 100 who have launched their mainnet, and can claim to have a working item with means of a loose definition. However, we have chosen not to include projects which arent really being used by any significant step, which means that most of the recently launched mainnets will not yet meet their criteria. .
In other words, the mere existence of a product does not necessarily mean that the product is working. After visit this site right here all, is a foundation doing any work when there's no weight on top of it Likewise, a dapp stage which has a mainnet but that doesnt have any noteworthy dapps on top of it isnt considered working by this standards. .
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No doubt many people will browse through this list, find that their favourite project is missing, and then leave a comment, What about XYZ project!! We welcome this feedback, as its entirely possible that some jobs have stronger user foundations than indicated in the prevalent documentation of them.
However, if you do think that we made a mistake, we ask that you supply sources backing up that claim so we may assess its own validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, that were originally on this list, have been eliminated as they do not meet the standards outlined above.)
Bitcoin is the cryptocurrency that started it all back in 2009, following the global financial crisis and subsequent bailouts of banks left many individuals disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Now, Bitcoin is being used for 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 own transaction-oriented design was the central focus of the majority of blockchain projects.
Vitalik Buterins Ethereum whitepaper premiered 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 projects have embraced Ethereum as their main intelligent contracts stage.
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Current banking infrastructure has failed to evolve in the 21st century, such that it takes 3-5 business days on average for an international transfer to be processed. With only 4 second transaction times and at a fraction of the expense of a wire transfer, Ripples working product is currently impacting the banking industry. .
The big knock against Ripple is that its native token, XRP, is utterly unnecessary. Indeed, driving adoption of Ripples banking solutions is far easier than getting real-world adoption for XRP.
In case youre interested in seeing a discussion about the way XRP adoption will occur, you may find this reddit thread worth a read. Meanwhile, all of us see here now will just have to wait and see if XRP adoption plans ultimately come to fruition.