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Should you havent run into no less than a handful of folks who are cynical about the state of the blockchain industry and think its mostly scams and vaporware, well you probably havent been into crypto for very 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 worth. The same research done in 2017 may have yielded some truly discouraging results but, even now, the results arent exactly stellar.
Before we discuss those results with you, its important to define just what constitutes a working item in the first location.
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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 criteria.
When researching this article, we evaluated each endeavors standing, looked in its roadmap, checked its launch history, and compared completed attributes to what the group promises to deliver in the future.
A working product is active and accessible to the general public. Its mainnet has probably been released 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 digital 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've chosen not to include jobs which arent really being used by any significant step, which means that nearly all of the recently launched mainnets will not yet meet their standards. .
In other words, the mere existence of a product does not necessarily mean 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 standards. .
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No doubt many people will browse through this list, find their favourite job is missing, and then make a comment, What about XYZ job!! We welcome this feedback, as its entirely possible that a few jobs have stronger user bases than indicated in the prevalent documentation of them.
However, should you think that we made a mistake, then we request that you provide sources backing up that promise so that 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 previously.)
Bitcoin is the cryptocurrency that started it all back in 2009, following the global useful site financial crisis and subsequent bailouts of banks abandoned many people disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Today, Bitcoin is being employed for peer payments throughout 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 record 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 transaction-oriented design was the central focus of the majority of blockchain projects.
Vitalik Buterins Ethereum whitepaper was released in late 2013. The job itself was announced January 2014, with 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 because their main intelligent contracts stage.
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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 cost of a cable transfer, Ripples working merchandise 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 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 weblink reddit thread worth a read. Meanwhile, all people will just have to wait and see if XRP adoption strategies ultimately come to fruition.