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If you havent run into no less than 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 top 100 cryptocurrencies (by market cap) in an attempt to learn how many of them actually had working products which are providing real value. The identical study done in 2017 may have yielded some truly discouraging results but, even now, the consequences arent just stellar.
Before we discuss the 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 basic blockchain and launching it isnt a very large bar to set. We wanted to become somewhat more rigorous with our standards.
When researching this guide, we assessed each endeavors standing, looked in its roadmap, checked its release record, and compared finished attributes to what the group promises to provide in the future.
A working merchandise is active and available to the public. Its mainnet has probably been released for some time, bumping the version numbers well above 1.0. Businesses and individuals use it on 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 product with a loose definition. But, we have chosen not to include projects 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 the item is working. After all, is a foundation really doing any work when there's no burden on top of it Additionally, a dapp platform which has a mainnet but 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 job is missing, and then make a comment, What about XYZ job!! We welcome this feedback, as its entirely possible that some jobs have stronger user bases than indicated in the prevalent documentation about them.
However, if you do think that we made a mistake, we ask that you provide sources backing up that claim so that we may assess its own validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, which were originally on this list, 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 worldwide 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 world. More than this, however, it is leading the way towards a future dig this in which financial technology is trustless, secure, resilient, and censorship resistant. With no Bitcoin, this list 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 premiered find more information 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 adopted Ethereum as their main intelligent contracts platform.
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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 only 4 second transaction times and in a fraction of the expense of a cable transfer, Ripples working merchandise is currently impacting the banking sector. .
The big knock her latest blog against Ripple is that its native token, XRP, is completely unnecessary. Indeed, driving adoption of Ripples banking solutions is far simpler than getting real life adoption for XRP.
If youre interested in seeing a discussion about how XRP adoption will occur, you may find that this reddit thread worth a read. Meanwhile, all of us will just have to wait and see whether XRP adoption plans ultimately come to fruition.