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Should you havent run into no less than a handful of folks that are cynical about the state of this 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 attempt to learn how many of these really had working products which are providing real worth. The identical study done in 2017 might have yielded some truly discouraging results but, even now, the results arent exactly stellar.
Before we share those results with you, its important to define what exactly constitutes a working product in the first place.
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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 become somewhat more strict with our criteria.
When researching this guide, we evaluated each endeavors status, looked at its roadmap, checked its launch history, and compared completed attributes to what the group promises to deliver in the foreseeable future.
A working product is active and accessible to the public. Its mainnet has probably been published for some time, bumping the version numbers well over 1.0. Businesses and individuals use it on a daily basis for dapps, smart contracts, or electronic currency transactions.
There are many jobs in the top 100 that have launched their mainnet, and can claim to have a working item with a loose definition. However, we have chosen not to include jobs which arent really being used by any significant step, which means that most of the recently launched mainnets will not yet meet their standards. .
In other words, the mere existence of a product does not necessarily mean that the product is working. After all, is a foundation really 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 criteria. .
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No doubt many people will browse through this list, find that 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 we made a mistake, we request that you supply sources backing Check This Out up that promise so we can 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 above.)
Bitcoin is the cryptocurrency that started it all back in 2009, following the global financial crisis and subsequent bailouts of banks abandoned many people disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Now, Bitcoin is being employed for peer-to-peer payments across the world. More than this, though, it's leading the way towards a future in which financial technology is trustless, secure, resilient, and censorship resistant. With no Bitcoin, this list would not exist.
The platform that brought smart check my reference 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 most blockchain projects.
After Ethereum, teams saw that the value of decentralized programs (dapps) and clever contracts, and imp source shifted their focus to compensate.
Vitalik Buterins Ethereum whitepaper was released 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, individuals, and blockchain jobs have embraced Ethereum as their main smart contracts stage.
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Current banking infrastructure has failed to evolve 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 in a fraction of the cost 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 utterly unnecessary. Indeed, driving adoption of Ripples banking solutions is far simpler than getting real-world adoption for XRP.
In case 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 if XRP adoption strategies ultimately come to fruition.