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If you havent run into at least a handful of people that 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 effort to learn how many of these really had working products which are providing real worth. The same study done in 2017 may have yielded some truly discouraging results but, even now, the consequences arent exactly 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 jobs are open-source, building a fundamental blockchain and launching it isnt a very high bar to set. We wanted to be a bit more strict with our criteria.
When researching this guide, we assessed each endeavors status, looked at its roadmap, checked its release record, and compared finished attributes to what the team promises to deliver in the future.
A working product 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 daily basis for dapps, smart contracts, or electronic currency transactions.
There are many jobs in the top 100 that have launched their mainnet, and can claim to have a working product by a loose definition. However, we have chosen not to include projects which arent really being used by any significant measure, 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 that the item is working. After all, is a foundation doing any work when there is no weight 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 will browse through this listing, find that their favourite project is missing, and then leave a comment, What about XYZ project!! We his explanation 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, we ask that you supply sources backing up that promise so that we can assess its validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, which were originally on this listing, have been removed as they do not meet 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 employed for peer payments throughout the world. More than this, 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 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 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 jobs have adopted Ethereum as 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 to get an international transfer to be processed. With only 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 utterly unnecessary. Indeed, driving adoption of Ripples banking solutions is far simpler than go to this web-site getting real life adoption for XRP.
If youre interested in seeing a discussion about how XRP adoption will happen, 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.