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Should you havent run into at least a handful of folks that are cynical about the state of the blockchain industry and think its largely 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 that are providing real worth. The identical study done in 2017 may have afforded 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 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 large bar to set. We wanted to be a bit more strict with our standards.
When researching this article, we evaluated each endeavors standing, looked at its roadmap, checked its launch history, and compared finished attributes to what the team promises to provide in the foreseeable future.
A working product is active and available 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 daily basis for dapps, smart contracts, or electronic currency transactions.
There are many projects in the top 100 that have launched their mainnet, and can claim to have a working product with a loose definition. But, we have chosen not to include projects which arent actually being used by any significant step, which means that most of the recently launched mainnets will not yet meet their 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 Additionally, a dapp platform which 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 favorite project is missing, and then leave 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 about them.
However, if you do think that we made a mistake, then we request that you provide 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 listing, have been eliminated as they do not meet the criteria outlined above.)
Bitcoin is the cryptocurrency that began 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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Today, Bitcoin is being used for peer-to-peer payments throughout 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 attracted smart contracts into 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.
Following Ethereum, teams saw the value of decentralized programs (dapps) and smart contracts, and changed their focus to compensate.
Vitalik Buterins Ethereum whitepaper was released in late 2013. The job itself was announced January 2014, with 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 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 just 4 second transaction times and at a fraction of the cost of a wire transfer, Ripples working product is already impacting the banking industry. .
The read review 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 life adoption for XRP.
In case youre interested in seeing a discussion about how XRP adoption will occur, you might find that this reddit thread worth a read. Meanwhile, all people will just have to wait and see whether XRP adoption strategies ultimately come to fruition.