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If you havent run into no less than 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 very long.
We researched the top 100 cryptocurrencies (by market cap) in an attempt to learn how many of these really had working products that are providing real value. The same study done in 2017 may have yielded some truly discouraging results but, even now, the consequences arent exactly stellar.
Before we share 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 projects are open-source, building a fundamental blockchain and launching it isnt a very high bar to set. We wanted to be somewhat more rigorous with our criteria.
When researching this article, we assessed each endeavors standing, looked at its roadmap, assessed its release history, and compared finished features to what the group promises to provide in the future.
A working merchandise is active and accessible to the general public. Its mainnet has probably been released for some time, bumping the version numbers well over 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 by means of a loose definition. But, 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 criteria. .
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 weight on top of it Likewise, a dapp platform 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!! We welcome this feedback, as its entirely possible that a few projects have stronger user bases than indicated in the prevalent documentation of them.
However, if you do think we made a mistake, then we ask look at this web-site that you provide sources backing up that claim so we can assess its validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, that were originally on this listing, have been removed as they do not fulfill the standards outlined previously.)
Bitcoin is the cryptocurrency that started it all back in 2009, after the global financial crisis and subsequent bailouts of banks abandoned many individuals disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Today, Bitcoin is being employed for peer-to-peer payments throughout 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. 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 transaction-oriented design was the central focus of the majority of blockchain projects.
Vitalik Buterins Ethereum whitepaper was released in late 2013. The project itself was announced January 2014, using 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 as their main smart contracts stage.
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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 working merchandise 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 far simpler than getting real life adoption for XRP.
In case youre interested in seeing a discussion about the way XRP adoption will occur, you might find this reddit thread worth a read. Meanwhile, all people will just have this hyperlink to wait and see if XRP adoption strategies ultimately come to fruition.