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If you havent run into no less than a handful of folks who are cynical about the condition of this blockchain industry and think its mostly scams and vaporware, well you probably havent been into crypto for very 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 value. The identical study done in 2017 might have yielded some truly discouraging benefits however, even now, the consequences arent exactly stellar.
Before we discuss the 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 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 article, we assessed each projects status, looked at its roadmap, assessed its launch record, and compared completed attributes to what the team promises to deliver in the future.
A working merchandise is active and accessible to the general public. Its mainnet has likely been released 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 digital currency transactions.
There are many jobs in the top 100 who have launched their own mainnet, and can claim to have a working product by a loose definition. However, we've chosen not to include jobs which arent actually being used by any significant step, which means that nearly all of the recently launched mainnets will not yet meet our 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 work when there is no weight 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 will browse through this list, find that their favourite project 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 of them.
However, should you think that we made a mistake, we ask that you provide sources backing up that promise so we may assess its own validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, that were originally on view publisher site this list, have been eliminated as they do not fulfill the standards outlined previously.)
Bitcoin is the cryptocurrency that began it back in 2009, following the worldwide financial crisis and subsequent bailouts of banks left many individuals disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Today, Bitcoin is being used for peer payments throughout the globe. More than this, though, it's leading the way towards a future in which financial technology is trustless, secure, resilient, and censorship resistant. Without Bitcoin, this list would go 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.
Vitalik Buterins Ethereum 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 because their main smart contracts stage.
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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 to get an international transfer to be processed. With only 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 big knock against Ripple is that its native token, XRP, is utterly unnecessary. Indeed, driving adoption of Ripples banking solutions is far easier than getting real life adoption for XRP.
If youre interested in seeing a discussion about how XRP adoption will happen, you may find this reddit thread worth a read. Meanwhile, all of us will just have to wait and see if XRP adoption plans ultimately come to fruition.