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If you havent run into at least a handful of people that are cynical about the state of the blockchain industry and think its largely scams and vaporware, well you probably havent been into crypto for very long.
We researched the top 100 cryptocurrencies (by market cap) in an attempt to learn how many of them really had working products that are providing real worth. The identical research done in 2017 may have yielded some truly discouraging results however, even now, the results arent exactly stellar.
Before we discuss those results with you, its important to define what exactly constitutes a working product in the first location.
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Considering that blockchain jobs are open-source, building a basic blockchain and launching it isnt a very high bar to set. We wanted to be somewhat more strict with our criteria.
When researching this article, we assessed each projects status, looked in its roadmap, assessed its release record, and compared finished features to what the group promises to deliver in the future.
A working product is active and available to the general 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 electronic currency transactions.
There are many jobs in the top 100 who have launched their own mainnet, and can claim to have a working product by means of a loose definition. But, we have chosen not to include projects which arent actually being used by any significant measure, 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 really doing any work when there is no burden on top of it Additionally, a dapp platform that has a mainnet but 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 listing, find that their favourite job is missing, and then make a comment, What about XYZ project!! We welcome this feedback, as its entirely possible that some projects have stronger user bases than indicated in the prevalent documentation of them.
However, if you do think that we made a mistake, we ask that you provide sources backing up that promise so we can assess its validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, which were originally on this list, have been removed as they do not fulfill the standards outlined above.)
Bitcoin is the cryptocurrency that began it back in 2009, following the worldwide financial crisis and subsequent bailouts of banks abandoned many individuals disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Now, Bitcoin is being employed for peer-to-peer payments throughout 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. With no Bitcoin, this list would not exist.
The platform that attracted smart contracts to 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, with 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 intelligent contracts platform.
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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 for an international transfer to be processed. With get redirected here only 4 second transaction times and at a fraction of the expense of a cable transfer, Ripples working merchandise is currently impacting the banking industry. .
The big knock against Ripple is that its native token, XRP, is completely unnecessary. Indeed, driving adoption of Ripples banking solutions is far simpler than getting real life adoption for XRP.
In case youre interested in seeing a discussion about how XRP adoption will happen, you might find this reddit thread worth a read. Meanwhile, all people will just have to wait and see if XRP adoption plans ultimately come to fruition.