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If you havent run into at least a handful of people that are cynical about the state 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 research done in 2017 may have afforded some truly discouraging benefits but, even now, the consequences arent exactly stellar.
Before we discuss those 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 a bit more rigorous with our standards.
When researching this article, we assessed each endeavors standing, looked at its roadmap, assessed its launch history, and compared finished attributes to what the team promises to provide in the future.
A working merchandise is active and accessible to the public. Its mainnet has probably been released for some time, bumping the version numbers well over 1.0. Businesses and individuals use it on daily basis for dapps, smart contracts, or electronic currency transactions.
There are many jobs in the top 100 who have launched their mainnet, and can claim to have a working item by a loose definition. However, we've chosen not to include jobs which arent actually being used by any significant measure, which means that most 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 product is working. After all, is a foundation really doing any work when there's no burden on top of it Additionally, a dapp stage that has a mainnet but doesnt have any noteworthy dapps on top of it isnt considered working by this criteria. .
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No doubt many people would read through this listing, find their favourite project is missing, and then leave a comment, What about XYZ project!! We welcome this feedback, as its entirely possible that a few projects have stronger user foundations than indicated in the prevalent documentation about them.
However, if you do think we made a mistake, then we ask that you supply sources backing up that claim so we may assess its validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, which were originally on this list, have been eliminated as they do not meet the learn the facts here now criteria outlined above.)
Bitcoin is the cryptocurrency that started it back in 2009, after 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 used for peer-to-peer payments across 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. With no Bitcoin, this record would not exist.
The platform that attracted smart contracts into 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 was released in late 2013. The project 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 projects have embraced Ethereum as their main smart contracts platform.
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Current banking infrastructure has failed to grow in the 21st century, such that it takes 3-5 business days on average to get 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 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.
In case youre interested in seeing a discussion about the way XRP adoption will occur, you view it 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.