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Should 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 attempt to learn how many of them actually had working products that are providing real value. The identical research done in 2017 may have yielded some truly discouraging results but, 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 location.
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Considering that blockchain projects are open-source, building a basic 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 evaluated each endeavors status, looked at its roadmap, assessed its launch record, and compared completed attributes to what the group promises to deliver in the foreseeable future.
A working merchandise is active and available to the general public. Its mainnet has probably been published for a while, bumping the version numbers well above 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 who 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 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 that the product is working. After all, is a foundation really doing any job when there's 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 job is missing, and then leave a comment, What about XYZ project!! check over here We welcome this feedback, look at here now as its entirely possible that some projects have stronger user bases than indicated in the prevalent documentation about them.
However, should you think that we made a mistake, we ask that you supply sources backing up that claim so that we can assess its 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 started it all back in 2009, after the worldwide financial crisis and subsequent bailouts of banks left many people disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Today, Bitcoin is being used for peer-to-peer payments across the world. More than that, however, 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 attracted 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, with a crowdsale the following July. The system went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain projects have adopted Ethereum as their main intelligent contracts platform.
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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 for an international transfer to be processed. With just 4 second transaction times and at a fraction of the cost of a wire transfer, Ripples Resources working product is already impacting the banking sector. .
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 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 of us will just have to wait and see whether XRP adoption plans ultimately come to fruition.