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If you havent run into no less than a handful of people who 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 effort to learn how many of these really had working products that are providing real value. The same study done in 2017 might have yielded some truly discouraging benefits however, even now, the consequences arent exactly stellar.
Before we share 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 basic blockchain and launching it isnt a very large bar to set. We wanted to be somewhat more rigorous with our standards.
When researching this article, we assessed each endeavors status, looked in its roadmap, checked its launch history, and compared finished features to what the group promises to deliver in the foreseeable future.
A working product is active and accessible to the public. Its mainnet has probably been published for a while, bumping the version numbers well above 1.0. Businesses and individuals use it on daily basis for dapps, smart contracts, or electronic currency transactions.
There are many projects in the top 100 who have launched their mainnet, and can claim to have a working item with a loose definition. But, we've chosen not to include projects which arent really being used by any significant measure, 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 that the item is working. After all, is a foundation really doing any work when there's 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 standards. .
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No doubt many people will read through this list, find that their favorite job is missing, and then leave a comment, What about XYZ project!! We welcome this feedback, as its entirely possible that a few jobs have stronger user foundations than indicated in the prevalent documentation of pop over to this web-site them.
But if you do think that we made a mistake, then we request that you provide sources backing up that promise so that we may assess its validity.
(Editors note: Upon further study 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 started it back in 2009, following the global financial crisis and subsequent bailouts of banks left many people disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Today, Bitcoin is being used for peer-to-peer payments across the globe. More than useful content that, 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.
Following Ethereum, teams saw the value of decentralized programs (dapps) and smart contracts, and changed their focus to compensate.
Vitalik Buterins Ethereum whitepaper was released in late 2013. The job 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 intelligent contracts platform.
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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 just 4 second transaction times and in 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 completely unnecessary. Indeed, driving adoption of Ripples banking solutions is far simpler than getting real life adoption for XRP.
If youre interested in seeing a discussion about the way XRP adoption will happen, you might find that this reddit thread worth a read. Meanwhile, all people will just have to wait and see whether XRP adoption plans ultimately come to fruition.