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Should you havent run into no less than a handful of folks who are cynical about the condition of this 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 attempt 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 results however, even now, the results arent just stellar.
Before we discuss those 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 basic blockchain and launching it isnt a very large bar to set. We wanted to be somewhat more rigorous with our standards.
When researching this article, we assessed each projects standing, looked at its roadmap, assessed its release record, and compared finished attributes to what the group promises to provide in the future.
A working merchandise is active and available to the general public. Its mainnet has likely been published for a while, bumping the version numbers well over 1.0. Businesses and individuals use it on a daily basis for dapps, smart contracts, or digital currency transactions.
There are many jobs in the top 100 that have launched their own mainnet, and can claim to have a working product with a loose definition. But, we have chosen not to include jobs which arent really being used by any significant measure, which means that nearly all of the recently launched mainnets will not yet meet our criteria. .
In other words, the mere existence of a product does not necessarily mean the product is working. After all, is a foundation doing any work when there's no burden on top of it Additionally, a dapp stage that has a mainnet but doesnt have any noteworthy dapps on top of it isnt considered working by this criteria. .
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No doubt many people would browse through this listing, find their favorite 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 foundations than indicated in the prevalent documentation of them.
However, if you do think we made a mistake, then we request that you provide sources backing up that promise so we may assess its validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, that were originally on this listing, have been removed as they do not meet the standards outlined previously.)
Bitcoin is the cryptocurrency that started it all back in 2009, after the global financial crisis and subsequent bailouts of banks abandoned many people disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Today, Bitcoin is being used for peer payments throughout the globe. More than that, however, it's leading the way towards a future in which financial technology is trustless, secure, resilient, and censorship resistant. Without Bitcoin, this list would not exist.
The platform that attracted 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, with a crowdsale the following July. The system went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain projects have adopted Ethereum because their main intelligent contracts stage.
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Current banking infrastructure has failed to evolve in the 21st century, such that i thought about this it still takes 3-5 business days on average to get an international transfer to be processed. With just 4 second transaction times and at a fraction of the cost of a cable transfer, Ripples working merchandise is already 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 how XRP adoption will occur, you may find this reddit thread worth a read. Meanwhile, all of us will just have to wait and see if XRP adoption plans ultimately come to fruition.