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If you havent run into at least a handful of people who are cynical about the state of this blockchain industry and think its mostly scams and vaporware, well you probably havent been into crypto for very long.
We researched the top 100 cryptocurrencies (by market cap) in an effort to learn how many of them actually had working products that are providing real value. The same research done in 2017 may have afforded some truly discouraging results but, even now, the results arent exactly stellar.
Before we share 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 become a bit more rigorous with our standards.
When researching this guide, we evaluated each projects status, looked in its roadmap, assessed its release record, and compared completed features to what the team promises to deliver in the foreseeable future.
A working merchandise is active and available to the public. Its mainnet has likely been published for a while, bumping the version numbers well over 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 that have launched their mainnet, and can claim to have a working item with means of a loose definition. However, we've 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 their standards. .
In other words, the mere existence of a product does not necessarily mean the product is working. After all, is a foundation doing any job when there is no weight on top of it Likewise, a dapp platform that 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 would read through this listing, find that their favourite project is missing, and then make a comment, What about XYZ project!! We welcome this feedback, as its entirely possible that a few projects have stronger user foundations than indicated in the prevalent documentation of them.
However, should you think that we made a mistake, then we ask Related Site that you supply sources backing up that claim so we may assess its own 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 started it back in 2009, after the worldwide financial crisis and subsequent bailouts of banks left many people disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Now, Bitcoin is being employed for peer-to-peer payments across the world. More than this, you could look here though, it is leading the way towards a future in which financial technology is trustless, secure, resilient, and censorship resistant. With no Bitcoin, this record would go now 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.
After Ethereum, teams saw that the value of decentralized programs (dapps) and smart contracts, and shifted their focus to compensate.
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 jobs have embraced Ethereum as their main smart contracts platform.
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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 to get an international transfer to be processed. With just 4 second transaction times and in a fraction of the cost 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 easier than getting real life adoption for XRP.
In case youre interested in seeing a discussion about how XRP adoption will happen, you might find that this reddit thread worth a read. Meanwhile, all of us will just have to wait and see if XRP adoption strategies ultimately come to fruition.