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If you havent run into at least a handful of folks that are cynical about the state 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 actually had working products that are providing real worth. The same study done in 2017 may have afforded some truly discouraging results however, even now, the consequences arent exactly stellar.
Before we discuss 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 high bar to set. We wanted to be somewhat more rigorous with our criteria.
When researching this guide, we evaluated each endeavors status, looked at its roadmap, checked its launch record, and compared completed features to what the group promises to provide in the foreseeable future.
A working product is active and accessible to the public. Its mainnet has likely 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 mainnet, and can claim to have a working product with 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 nearly all of the recently launched mainnets will not yet meet our standards. .
In other words, the mere existence of a product does not necessarily mean that the item is working. After all, is a foundation doing any work when there's no burden on top of it Likewise, a dapp stage that has a mainnet but that doesnt have any noteworthy dapps on top of it isnt considered working by this criteria. .
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No doubt many people would browse through this list, find that their favourite job is missing, and then make 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 of them.
But should you think we made a mistake, we request that you supply sources backing up that promise so we may assess its own validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, which were originally on this list, have been eliminated as they do not fulfill the standards outlined previously.)
Bitcoin is the cryptocurrency that began it back in 2009, after the global financial crisis and subsequent bailouts of banks left many people disenfranchised with fiat currency and obsolete, insecure my link financial infrastructure.
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Today, Bitcoin is being employed for peer payments across the globe. More than that, though, 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 brought 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 premiered in late 2013. The job itself was announced January 2014, using a crowdsale the following July. The system officially went live in July 2015.
Since then, hundreds of businesses, this hyperlink individuals, and blockchain projects have adopted Ethereum because their main intelligent contracts platform.
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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 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 much simpler than getting real life adoption for XRP.
If youre interested in seeing a discussion about the way XRP adoption will occur, 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.