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If you havent run into at least a handful of folks that are cynical about the state of the blockchain industry and think its mostly 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 really had working products that are providing real worth. The identical research done in 2017 may have yielded some truly discouraging benefits however, even now, the consequences arent exactly stellar.
Before we discuss the results with you, its important to define what exactly 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 be somewhat more rigorous with our standards.
When researching this article, we assessed each projects status, looked at its roadmap, assessed its release record, and compared completed attributes to what the team promises to provide in the future.
A working product is active and accessible 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 electronic currency transactions.
There are many projects in the top 100 who have launched their mainnet, and can claim to have a working product with a loose definition. However, we have chosen not to include projects which arent actually being used by any significant step, 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 item is working. After all, is a foundation really doing any visite site 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 would browse through this list, find their favorite job is missing, and then leave a comment, What about XYZ project!! We welcome this feedback, as its entirely possible that a few projects have stronger user bases than indicated in the prevalent documentation about them.
But should you think that we made a mistake, we ask that you supply sources backing up that promise so that we can assess its own validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, that were originally on this list, have been removed as they do not fulfill the standards 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 individuals disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Now, Bitcoin is being used for peer-to-peer payments across the globe. More than this, though, it Bonuses is leading the way towards a future in which financial technology is trustless, secure, resilient, and censorship resistant. With no Bitcoin, this record 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 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 officially went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain projects have adopted Ethereum because their main smart contracts stage.
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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 only 4 second transaction times and in 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 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 may find that this reddit thread worth a read. Meanwhile, all people will just have to wait and see if XRP adoption strategies ultimately come to fruition.