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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 largely scams and vaporware, well you probably havent been into crypto for quite long.
We researched the top 100 cryptocurrencies (by market cap) in an effort to learn how many of these actually had working products which are providing real worth. The same research done in 2017 might have afforded some truly discouraging benefits however, even now, the results arent just stellar.
Before we discuss the results with you, its important to define just what constitutes a working product in the first place.
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Considering that blockchain jobs are open-source, building a basic blockchain and launching it isnt a very large bar to set. We wanted to become a bit more strict with our criteria.
When researching this article, we assessed each endeavors status, looked in its roadmap, assessed its release history, and compared finished attributes to what the group promises to deliver in the future.
A working product is active and available to the general public. Its mainnet has probably been released for some time, bumping the version numbers well above 1.0. Businesses and individuals use it on a daily basis for dapps, smart contracts, or electronic currency transactions.
There are many projects in the top 100 that have launched their own mainnet, and can claim to have a working item by a loose definition. However, we've chosen not to include projects which arent really being used by any significant measure, which means that most of the recently launched mainnets will not yet meet their standards. .
In other words, the mere existence of a product does not necessarily mean the item is working. After all, is a foundation really doing any work when there is no weight on top of it Likewise, a dapp platform which 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 would read through this list, find that their favourite project is missing, and then leave a comment, What about XYZ job!! We welcome this feedback, as its entirely possible that a few projects have stronger user bases than indicated in the prevalent documentation about them.
However, should you think we made a mistake, then we request that you provide sources backing up that promise so that we can assess its own validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, which were originally on this listing, have been removed as they do not meet the standards outlined above.)
Bitcoin is the cryptocurrency that started it back in 2009, following the worldwide financial crisis and subsequent bailouts of banks left many people disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Today, Bitcoin is being used for peer-to-peer payments across the globe. More than that, however, 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 to the blockchain, spurring a minor revolution in the cryptocurrency ecosystem. Before Ethereum, Bitcoin and its transaction-oriented design was the central focus of most blockchain projects.
Vitalik Buterins Ethereum whitepaper premiered in late 2013. The job itself More about the author was announced January 2014, with a crowdsale the following July. The system officially went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain projects have adopted Ethereum as their main smart contracts platform.
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Current banking infrastructure has failed to grow in the 21st century, such that it takes 3-5 business days on average for an international transfer to be processed. With just 4 second transaction times and at a fraction of the cost 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 much simpler than getting real visit here life adoption for XRP.
If youre interested in seeing a discussion about how XRP adoption will occur, you might find that this reddit thread worth a read. Meanwhile, all people will just have to wait and see whether XRP adoption strategies ultimately come to fruition.