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Should you havent run into no less than a handful of folks that are cynical about the state 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 these actually had working products that are providing real worth. The identical study done in 2017 might have afforded some truly discouraging benefits but, even now, the results arent exactly 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 fundamental blockchain and launching it isnt a very high bar to set. We wanted to be somewhat more rigorous with our criteria.
When researching this guide, we evaluated each projects standing, looked in its roadmap, checked its release history, and compared completed attributes to what the team promises to provide in the future.
A working merchandise is active and available 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 projects in the top 100 who have launched their mainnet, and can claim to have a working item by a loose definition. But, we've chosen not to include projects which arent really being used by any significant step, 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 that the item is working. After all, is a foundation doing any job when there's no weight on top of it Likewise, a dapp platform that 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 listing, find their favorite project is missing, and then make a comment, What about XYZ project!! We welcome this feedback, as its entirely possible that some jobs have stronger user bases than indicated in the prevalent documentation about them.
However, if you do think we made a mistake, then we request that you supply sources backing up that claim so we may assess its validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, that were originally on this listing, have been eliminated as they do not meet the criteria outlined above.)
Bitcoin is the cryptocurrency that started it all back in 2009, following the global financial crisis and subsequent bailouts of banks left many people disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Now, Bitcoin is being used for peer payments throughout the globe. More than that, however, it's leading the way towards a future in which financial technology is trustless, secure, resilient, and censorship resistant. Without Bitcoin, this record would not exist.
The that site platform that attracted 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 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 smart 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 for an international transfer to be Full Report 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 sector. .
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-world 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 strategies ultimately come to fruition.