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If you havent run into at least a handful of folks that are cynical about the state 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 that are providing real value. The identical research done in 2017 may have afforded some truly discouraging benefits but, 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 fundamental 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 article, we assessed each projects status, looked in its roadmap, assessed its release record, and compared finished features to what the group promises to deliver in the foreseeable future.
A working product is active and available to the general public. Its mainnet has likely been published for some time, bumping the version numbers well above 1.0. Businesses and individuals use it on 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 item with means of a loose definition. But, we've chosen not to include projects which arent actually being used by any significant step, which means that nearly all of the recently launched mainnets will not yet meet our standards. .
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 burden on top of it Likewise, 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 read through this listing, find that their favourite project is missing, and then leave a comment, What about XYZ job!! We see this page welcome this feedback, as its entirely possible that some projects have stronger user foundations than indicated in the prevalent documentation of them.
However, if you do think we made a mistake, then we ask that you provide sources backing up that claim so we may assess its validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, that were originally on this listing, have been eliminated as they do not fulfill the criteria outlined above.)
Bitcoin is the cryptocurrency that started it back in 2009, following the global 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 used for peer payments throughout the globe. More than this, however, it is leading the way towards a article source 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 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, with a crowdsale the following July. The system went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain jobs have embraced Ethereum because their main smart contracts platform.
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Current banking infrastructure has failed to grow in the 21st century, such that it 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 expense of a cable transfer, Ripples working merchandise is currently impacting the banking industry. .
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.
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 whether XRP adoption plans ultimately come to fruition.