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If you havent run into at least a handful of people that are cynical about the state of this 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 these actually had working products which are providing real value. The identical study done in 2017 might have afforded some truly discouraging benefits however, even now, the consequences arent just stellar.
Before we discuss the results with you, its important to define just what constitutes a working item 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 high bar to set. We wanted to be a bit more strict with our criteria.
When researching this article, we evaluated each projects status, looked in its roadmap, assessed its release record, and compared finished features 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 digital currency transactions.
There are many jobs in the top 100 who have launched their own mainnet, and can claim to have a working item by a loose definition. But, we have 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 their standards. .
In other words, the mere existence of a product does not necessarily mean the item is working. After all, is a foundation doing any work when there is no weight on top of it Additionally, a dapp stage that 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 read through this list, find that their favourite project is missing, and then make a comment, What about XYZ project!! We welcome this feedback, as its entirely possible that a few jobs have stronger user bases than indicated in the prevalent documentation of them.
But if you do think we made a mistake, we request that you provide sources backing up that promise so we can 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 started it all back in 2009, after the worldwide 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 employed for peer-to-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. Without Bitcoin, this list would not exist.
The platform that attracted smart click here now 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 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 adopted Ethereum because their main smart 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 to get 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 merchandise is currently 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 easier than getting real life adoption for XRP.
If youre interested in seeing a discussion about how XRP adoption will occur, you may find that this reddit thread worth a read. Meanwhile, all of us will just have to wait and see whether XRP adoption plans ultimately come to fruition.