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Should you havent run into no less than a handful of folks who are cynical about the state of this blockchain industry and think its largely 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 which are providing real worth. The same study done in 2017 might have yielded some truly discouraging results however, even now, the results arent exactly stellar.
Before we discuss those results with you, its important to define what exactly constitutes a working product in the first location.
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Considering that blockchain jobs are open-source, building a fundamental blockchain and launching it isnt a very high bar to set. We wanted to be a bit more rigorous with our standards.
When researching this article, we evaluated each projects standing, looked in its roadmap, checked its release record, and compared finished attributes to what the team promises to deliver in the future.
A working merchandise is active and accessible to the general public. Its mainnet has probably been released for a while, bumping the version numbers well above 1.0. Businesses and individuals use it on daily basis for dapps, smart contracts, or digital currency transactions.
There are many projects in the top 100 that have launched their own mainnet, and can claim to have a working item by a loose definition. However, we have 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 our standards. .
In other words, the mere existence of a product does not necessarily mean the item is working. After all, is a foundation really doing any job when there's no burden on top of it Likewise, a dapp stage which has a mainnet but 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 listing, find their favourite job is missing, and then leave a comment, What about XYZ job!! We welcome this feedback, as its entirely possible that a few jobs have stronger user foundations than indicated in the prevalent documentation about them.
However, should you think that we made a mistake, then we ask that you provide sources backing up that claim so we can assess its validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, that were originally on this listing, have been removed as they do not meet the criteria outlined above.)
Bitcoin is the cryptocurrency that began it all back in 2009, following the global financial crisis and subsequent bailouts of banks abandoned many people disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Now, Bitcoin is being used for peer payments across 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. With no Bitcoin, this list 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 most 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 officially went live in July 2015.
Since then, 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 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 why not look here in a fraction of the cost 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 much easier than getting real life adoption for XRP.
In case youre interested in seeing a discussion about how XRP adoption will occur, 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.