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Should you havent run into at least a handful of people who 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 very best 100 cryptocurrencies (by market cap) in an attempt to learn how many of them actually had working products which are providing real value. The identical research done in 2017 may have yielded some truly discouraging results but, even now, the consequences 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 jobs are open-source, building a fundamental blockchain and launching it isnt a very high bar to set. We wanted to become a bit more rigorous with our criteria.
When researching this article, we assessed each endeavors status, looked at its roadmap, assessed its launch record, and compared finished features to what the group promises to deliver in the future.
A working product is active and accessible to the general public. Its mainnet has probably been published for some time, bumping the version numbers well over 1.0. Businesses and individuals use it on daily basis for dapps, smart contracts, or digital 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. But, we have 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 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 work when there is no burden on top of it Additionally, 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 will browse through this list, find that their favorite job is missing, and then make 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.
But should you think that we made a mistake, we ask that you supply sources backing up that promise so that we may assess its validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, that were originally on this list, have been removed as they do not meet 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 abandoned many individuals 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, though, it's 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 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 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 as their main intelligent contracts stage.
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Current banking infrastructure has failed to evolve in the 21st century, such that it still takes 3-5 business days on average to get an international transfer to be processed. With only 4 second transaction times and Visit Website at a fraction of the expense of a wire 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 far simpler than getting real life adoption for XRP.
In case youre interested in seeing a discussion about the way XRP adoption will occur, you may find this reddit thread worth a read. Meanwhile, all people will just have to wait and see if XRP adoption strategies ultimately come to fruition.