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If you havent run into no less than a handful of people who are cynical about the condition of this 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 effort to learn how many of these really had working products which are providing real value. The same study done in 2017 might have yielded some truly discouraging results but, even now, the consequences arent just stellar.
Before we share the 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 be somewhat more rigorous with our criteria.
When researching this guide, we assessed each projects standing, looked at its roadmap, checked its launch history, and compared finished attributes to what the group promises to provide in the future.
A working merchandise is active and available to the public. Its mainnet has likely been released for some time, bumping the version numbers well over 1.0. Businesses and individuals use it on a daily basis for dapps, smart contracts, or electronic 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 means of a loose definition. But, we've chosen not to include projects which arent really being used by any significant measure, which means that most of the recently launched mainnets will not yet meet find more information their standards. .
In other words, the mere existence of a product does not necessarily mean the product is working. After all, is a foundation really doing any work when there's no burden on top of it Additionally, a dapp web platform which 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 would read through this list, find their favorite project is missing, and then leave a comment, What about XYZ project!! We welcome this feedback, as its entirely possible that some projects have stronger user foundations than indicated in the prevalent documentation about them.
But should you think that we made a mistake, we request that you supply sources backing up that promise so we can assess its validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, which were originally on this list, have been eliminated as they do not meet the criteria outlined above.)
Bitcoin is the cryptocurrency that began it back in 2009, following the global financial crisis and subsequent bailouts of banks left many people disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Now, Bitcoin is being employed for peer-to-peer payments throughout the globe. 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 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 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 as their main intelligent 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 at a fraction of the cost of a wire transfer, Ripples working product 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 much simpler than getting real-world adoption for XRP.
If youre interested in seeing a discussion about how XRP adoption will occur, you may 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.