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If you havent run into at least a handful of people who are cynical about the condition of the blockchain industry and think its largely scams and vaporware, well you probably havent been into crypto for quite long.
We researched the very best 100 cryptocurrencies (by market cap) in an attempt to learn how many of them actually had working products which are providing real worth. The same study done in 2017 may have afforded some truly discouraging benefits however, even now, the consequences arent just stellar.
Before we discuss those results with you, its important to define just what constitutes a working product in the first place.
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Considering that blockchain projects are open-source, building a basic blockchain and launching it isnt a very large bar to set. We wanted to become somewhat more rigorous with our criteria.
When researching this article, we evaluated each projects standing, looked at its roadmap, checked its release record, and compared completed features to what the team promises to provide in the foreseeable future.
A working merchandise is active and available to the public. Its mainnet has probably been released for some time, bumping the version numbers well above 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 that have launched their own mainnet, and can claim to have a working product by a loose definition. But, we've chosen not to include jobs which arent really being used by any significant measure, which means that most 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 item is working. After all, is a foundation really doing any job when there is no burden on top of it Additionally, a dapp platform which has a mainnet but that doesnt have any noteworthy dapps on top of it isnt considered working by this standards. .
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No doubt many people would browse through this list, find that their favourite project is missing, and then leave a comment, What about XYZ project!! We welcome this feedback, as its entirely possible that some jobs have stronger user bases than indicated in the check this site out prevalent documentation about them.
But should you think we made a mistake, we request that you supply sources backing up that claim so we can assess its own validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, which were originally on this list, have been removed as they do not meet the criteria outlined previously.)
Bitcoin is the cryptocurrency that started it all back in 2009, following the worldwide financial crisis and subsequent bailouts of banks visite site left many individuals disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Today, Bitcoin is being used for peer-to-peer payments throughout 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. With no Bitcoin, this list would not exist.
The platform that attracted 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 officially 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 Continued evolve in the 21st century, such that it still takes 3-5 business days on average to get an international transfer to be processed. With just 4 second transaction times and in a fraction of the cost of a cable transfer, Ripples working product is currently 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 easier than getting real life adoption for XRP.
In case youre interested in seeing a discussion about how XRP adoption will happen, you may find this reddit thread worth a read. Meanwhile, all of us will just have to wait and see if XRP adoption strategies ultimately come to fruition.