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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 very long.
We researched the very best 100 cryptocurrencies (by market cap) in an effort to learn how many of them actually had working products which are providing real worth. The identical study done in 2017 may have yielded some truly discouraging results but, even now, the consequences arent exactly stellar.
Before we share 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 projects are open-source, building a fundamental blockchain and launching it isnt a very high bar to set. We wanted to become a bit more strict with our criteria.
When researching this article, we assessed each endeavors status, looked in its roadmap, checked its launch history, and compared finished features to what the group promises to deliver in the future.
A working merchandise is active and available to the public. Its mainnet has likely 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 jobs in the top 100 that have launched their own mainnet, and can claim to have a working product by means of a loose definition. However, we have chosen not to include jobs which arent really being used by any significant measure, which means that nearly all 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 doing any work when there is 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 criteria. .
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No doubt many people will read through this list, find their favorite job is missing, and then make a comment, What about XYZ project!! We welcome this feedback, as its entirely possible that a few jobs have stronger user bases than indicated in the prevalent documentation of them.
But if you do think we made a mistake, then we ask that you provide 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 eliminated as they do not fulfill the criteria outlined previously.)
Bitcoin is the cryptocurrency that began it all back in 2009, following 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 employed for peer payments throughout the world. More than that, however, 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 attracted smart check here 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 officially 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 grow in the 21st century, such that it 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 expense of a cable transfer, Ripples working product 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 far simpler than getting real-world adoption for XRP.
If youre interested in seeing a discussion about the way XRP adoption will occur, you may find that this reddit thread worth a read. Meanwhile, all of us will just have to wait and see if from this source XRP adoption strategies ultimately come to fruition.