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Should you havent run into at least a handful of folks who are cynical about the state of this blockchain industry and think its mostly scams and vaporware, well you probably havent been into crypto for quite long.
We researched the very best 100 cryptocurrencies (by market cap) in an effort to learn how many of them 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 just what constitutes a working item 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 become a bit more rigorous with our criteria.
When researching this guide, we evaluated each projects status, looked at its roadmap, assessed its launch record, and compared completed attributes to what the group promises to provide in the future.
A working product is active and accessible to the general public. Its mainnet has likely been published for a while, 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 who have launched their mainnet, and can claim to have a working item with means of a loose definition. However, 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 their standards. .
In other blog words, the mere existence of a product does not necessarily mean the item is working. After all, is a foundation really doing any work when there is no burden on top of it Additionally, 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 read 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 projects have stronger user bases than indicated in the prevalent documentation of them.
But if you do 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 research and consideration, OmiseGO and Verge, which were originally on this listing, have been eliminated as they do not fulfill the criteria outlined previously.)
Bitcoin is the cryptocurrency that began it all back in 2009, following the global financial crisis and subsequent bailouts of banks left many individuals disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Now, Bitcoin is being used for peer-to-peer payments throughout the world. 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 most blockchain projects.
Vitalik Buterins Ethereum important site whitepaper premiered in late 2013. The job itself was announced January 2014, using a crowdsale the following July. The system went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain jobs have embraced Ethereum as their main intelligent contracts stage.
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Current banking infrastructure has failed to grow in the 21st century, such that it takes 3-5 business days on average for an international transfer to be processed. With only 4 second transaction times and in a fraction of the expense of a cable transfer, Ripples working merchandise is already 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 far easier 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 people will just have to wait and see if XRP adoption plans ultimately come to fruition.