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If you havent run into at least a handful of folks that are cynical about the condition of this 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 these really had working products that are providing real value. The identical research done in 2017 might have afforded some truly discouraging benefits however, even now, the consequences arent exactly stellar.
Before we share the results with you, its important to define just what constitutes a working item in the first location.
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Considering that blockchain projects are open-source, building a fundamental blockchain and launching it isnt a very large bar to set. We wanted to be a bit more strict with our criteria.
When researching this article, we evaluated each endeavors standing, looked in its roadmap, checked its release history, and compared finished features to what the team promises to deliver in the future.
A working product is active and available to the public. Its mainnet has probably been published for some time, 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 projects in the top 100 who have launched their own mainnet, and can claim to have a working product with a loose definition. However, we have chosen not to include jobs which arent really being used by any significant step, 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 product is working. After all, is a foundation really doing any job when there's no burden on top of it Likewise, 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 read through this listing, find their favorite job is missing, and then leave 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 should you think that we made a mistake, we request that you provide sources backing up that claim so we may 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 standards outlined above.)
Bitcoin is the cryptocurrency that started it back in 2009, after the worldwide financial crisis and subsequent bailouts of banks left many individuals disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Now, Bitcoin is being employed for peer-to-peer payments across the globe. More than this, however, it is leading the way towards a future in which financial technology is trustless, secure, resilient, and censorship resistant. With no Bitcoin, this record 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 transaction-oriented design was the central focus of the majority of blockchain projects.
Vitalik Buterins Ethereum whitepaper was released 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, great post to read hundreds of businesses, individuals, and blockchain jobs have adopted Ethereum because 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 expense of a wire 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 getting real life adoption for XRP.
In case youre interested in seeing a discussion about the way XRP adoption will happen, you might find that 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.