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If 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 very 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 identical study done in 2017 may have yielded some truly discouraging benefits but, even now, the results arent just stellar.
Before we share those results with you, its important to define just what 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 high bar to set. We wanted to become a bit more strict with our standards.
When researching this article, we evaluated each projects status, looked at its roadmap, checked its release history, and compared finished attributes to what the group promises to deliver in the foreseeable future.
A working merchandise is active and available to the general public. Its mainnet has probably 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 electronic currency transactions.
There are many jobs in the top 100 that have launched their own mainnet, and can claim to have a working item with means of a loose definition. But, we've 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 our criteria. .
In other words, the mere existence of a product does not necessarily mean the product is working. After all, is a foundation really doing any work when there's no weight on top of it Likewise, a dapp stage 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 will read through this list, find that their favourite job is missing, and then leave a comment, What about XYZ job!! We welcome this feedback, as its entirely possible that some jobs have stronger user bases than indicated in the prevalent documentation about them.
But if you do think we made a mistake, then we ask that why not check here you provide sources backing up that claim so that we may assess its validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, that were originally on this listing, have been eliminated as they do not meet the criteria outlined above.)
Bitcoin is the cryptocurrency that started it all back in 2009, after 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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Now, Bitcoin is being employed for peer-to-peer payments throughout the world. 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 list would not exist.
The platform that attracted smart contracts into the blockchain, spurring a minor helpful site revolution in the cryptocurrency ecosystem. Before Ethereum, Bitcoin and its own transaction-oriented design was the central focus of most blockchain projects.
Vitalik Buterins Ethereum whitepaper was released in late 2013. The project 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 because their main smart 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 to get 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 sector. .
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 life adoption for XRP.
If youre interested in seeing a discussion about how XRP adoption will occur, 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.