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Should you havent run into at least a handful of people who 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 very best 100 cryptocurrencies (by market cap) in an attempt to learn how many of them actually had working products which are providing real worth. The identical research done in 2017 might have yielded some truly discouraging results but, even now, the consequences arent just stellar.
Before we discuss those results with you, its important to define what exactly 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 article, we evaluated each endeavors status, looked in its roadmap, assessed its release record, and compared finished features to what the group promises to provide in the future.
A working merchandise is active and accessible to the public. Its mainnet has likely been published for a while, bumping the version numbers well over 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 who have launched their own mainnet, and can claim to have a working product by a loose definition. However, we've chosen not to include jobs which arent actually being used by any significant step, which means that nearly all of the recently launched mainnets will not yet meet our 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 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 criteria. .
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No doubt many people would browse through this list, find that their favourite 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 bases than indicated in the prevalent documentation web link about them.
But if you do think that we made a mistake, we request that you supply sources backing up that claim so that we may assess its own validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, which were originally on this list, have been removed as they do not meet the standards outlined above.)
Bitcoin is the cryptocurrency that began it back in 2009, following the worldwide financial crisis and subsequent bailouts of banks left many people disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Today, Bitcoin is being used for peer payments across the world. More than this, though, it is 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 own transaction-oriented design was the central focus of the majority of 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 officially 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 evolve 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 at a fraction of the cost of a cable 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 much easier than getting real-world adoption for XRP.
If youre interested in seeing a discussion about the way XRP adoption will happen, you may find this Claim Satoshi Every Second reddit thread worth a read. Meanwhile, all of us will just have to wait and see whether XRP adoption plans ultimately come to fruition.