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Should you havent run into no less than a handful of folks who are cynical about the state of the 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 attempt to learn how many of them really had working products that are providing real value. The same study done in 2017 might have afforded some truly discouraging benefits however, even now, the results arent exactly stellar.
Before we share 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 projects are open-source, building a fundamental blockchain and launching it isnt a very high bar to set. We wanted to be somewhat more rigorous with our standards.
When researching this article, we assessed each projects status, looked in its roadmap, assessed its release history, and compared finished attributes to what the team promises to deliver in the foreseeable future.
A working product is active and accessible to the general public. Its mainnet has likely been released 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 digital currency transactions.
There are many jobs in the top 100 who have launched their mainnet, and can claim to have a working item with a loose definition. However, we have 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 their criteria. .
In other words, the mere existence of a product does not necessarily mean that the product is working. After all, is a foundation doing any job when there's no burden on top of it Likewise, a dapp stage which 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 will browse linked here through this listing, find that their favorite job is missing, and then make a comment, What about XYZ project!! We welcome this feedback, as its entirely possible Read Full Report that some jobs have stronger user bases than indicated in the prevalent documentation about them.
However, if you do think that we made a mistake, we ask that you supply sources backing up that claim so that we can assess its own validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, that were originally on this list, have been eliminated as they do not fulfill the criteria outlined above.)
Bitcoin is the cryptocurrency that began it back in 2009, after the worldwide financial crisis and subsequent bailouts of banks abandoned many people disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Now, Bitcoin is being used for peer payments throughout the globe. More than this, though, it is 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 to 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, with a crowdsale the following July. The system went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain projects have embraced Ethereum because their main smart contracts platform.
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Current banking infrastructure has failed to evolve in the 21st century, such that it takes 3-5 business days on average for an international transfer to be processed. With just 4 second transaction times and at a fraction of the cost 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 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 might find that this reddit thread worth a read. Meanwhile, all people will just have to wait and see if XRP adoption plans ultimately come to fruition.