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If you havent run into at least a handful of folks who are cynical about the state of the 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 these actually had working products that are providing real value. The identical study done in 2017 might have yielded some truly discouraging results however, even now, the consequences arent just 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 basic blockchain and launching it isnt a very high bar to set. We wanted to become somewhat more strict with our criteria.
When researching this guide, we evaluated each projects standing, looked at its roadmap, checked its launch history, and compared finished features to what the team promises to deliver in the future.
A working product is active and available to the public. Its mainnet has probably 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 electronic currency transactions.
There are many projects in the top 100 who have launched their mainnet, and can claim to have a working product by a loose definition. However, we've chosen not to include projects which arent actually 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 product is working. After all, is a foundation doing any job when there's 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 standards. .
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No doubt many people would read through this list, find that their favourite project is missing, and then make 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 of them.
But if you do think we made a mistake, helpful resources we request that you supply sources backing up that promise so we may assess its validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, which were originally on this listing, have been removed as they do not meet the standards outlined above.)
Bitcoin is the cryptocurrency that started it back in 2009, following the worldwide 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 this, 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 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 the majority of blockchain projects.
Vitalik Buterins Ethereum whitepaper premiered 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 smart contracts platform.
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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 at a fraction of the expense of a wire transfer, Ripples working merchandise is already impacting the banking sector. .
The big knock against Ripple is that its native token, XRP, is utterly unnecessary. Indeed, driving adoption of Ripples banking solutions is much easier than getting real life adoption for XRP.
If youre interested in seeing a discussion about the way XRP adoption will happen, you may find that this reddit thread worth a read. Meanwhile, all people will just have to wait and see whether XRP adoption plans ultimately come to fruition.