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Should you havent run into at least a handful of people that are cynical about the condition of the blockchain industry and think its largely 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 these actually had working products which are providing real value. The identical study done in 2017 may have afforded some truly discouraging results but, even now, the results arent just stellar.
Before we discuss those results with you, its important to define just what constitutes a working product in the first place.
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Considering that blockchain jobs are open-source, building a fundamental blockchain and launching it isnt a very large bar to set. We wanted to become somewhat more strict with our standards.
When researching this article, we evaluated each projects status, looked in its roadmap, checked its launch record, and compared finished attributes to what the team promises to provide in the future.
A working product is active and available to the public. Its mainnet has probably been published for some time, 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 jobs in the top 100 that have launched their mainnet, and can claim to have a working item with a loose definition. But, 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 criteria. .
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 is no burden 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 criteria. .
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No doubt many people would browse through this listing, find their favorite 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 should you think that we made a mistake, then we ask that you provide sources backing up that promise so that we can 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 previously.)
Bitcoin is the cryptocurrency that started it all back in 2009, following the global financial crisis and subsequent bailouts of banks left 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 globe. More than this, however, it is leading the way towards a future in which financial technology is trustless, secure, resilient, and censorship resistant. Without Bitcoin, this list 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 project itself was announced January 2014, with a resource crowdsale the following July. The system went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain projects have adopted Ethereum because their main intelligent contracts platform.
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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 only 4 second transaction times and at a fraction of the expense of a wire transfer, Ripples working merchandise is currently impacting the banking industry. .
The big his explanation 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-world adoption for XRP.
In case youre interested in seeing a discussion about the way XRP adoption will occur, you might find this reddit thread worth a read. Meanwhile, all people will just have to wait and see whether XRP adoption plans ultimately come news to fruition.