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Should you havent run into no less than a handful of folks who are cynical about the condition of this 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 them actually had working products which are providing real value. The same study done in 2017 might have yielded some truly discouraging results however, even now, the consequences arent just stellar.
Before we discuss those results with you, its important to define what exactly constitutes a working item 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 high bar to set. We wanted to become a bit more rigorous with our standards.
When researching this guide, we assessed each endeavors status, looked in its roadmap, assessed its release record, and compared finished attributes to what the team promises to provide in the future.
A working merchandise is active and accessible to the general public. Its mainnet has probably 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 projects in the top 100 who have launched their mainnet, and can claim to have a working product with a loose definition. But, we've chosen not to include jobs which arent actually being used by any significant step, which means that most of the recently launched mainnets will not yet meet our standards. .
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's no weight on top of it Additionally, a dapp stage 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 will browse through this list, find their favorite job is missing, and then make a comment, What about XYZ project!! 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 we made a mistake, then we request that find here you provide sources backing up that promise so we may 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 standards outlined above.)
Bitcoin is the cryptocurrency that began it all back in 2009, after the global financial crisis and subsequent bailouts of banks left many individuals disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Now, Bitcoin is being used for peer-to-peer payments throughout the globe. More than that, however, it is leading the way towards a future in which financial link technology is trustless, secure, resilient, and censorship resistant. Without Bitcoin, this record would not exist.
The platform use this link 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 most 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 officially went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain projects have embraced Ethereum as their main intelligent contracts stage.
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Current banking infrastructure has failed to grow 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 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 much simpler than getting real life adoption for XRP.
If youre interested in seeing a discussion about how XRP adoption will occur, you might find this reddit thread worth a read. Meanwhile, all people will just have to wait and see if XRP adoption plans ultimately come to fruition.