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Should you havent run into at least a handful of people who are cynical about the condition of the blockchain industry and think its largely scams and vaporware, well you probably havent been into crypto for quite long.
We researched the very best 100 cryptocurrencies (by market cap) in an effort to learn how many of these really had working products that are providing real worth. The same study done in 2017 might have yielded some truly discouraging results but, even now, the results arent just stellar.
Before we share those results with you, its important to define what exactly constitutes a working product 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 large bar to set. We wanted to be a bit more strict with our criteria.
When researching this guide, we assessed each endeavors status, looked in its roadmap, checked its launch record, and compared completed features to what the team promises to deliver in the foreseeable future.
A working product is active and available 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 that have launched their mainnet, and can claim to have a working product by means of a loose definition. However, we have 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 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's no weight on top of it Likewise, a dapp stage which has a mainnet but doesnt have any noteworthy dapps on top of it isnt considered working by this criteria. .
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No doubt many people would read through this listing, 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 foundations than indicated in the prevalent documentation about them.
But if you do think that we blog here made a mistake, then we ask that you supply sources backing up that promise so we may assess its validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, that were originally on this list, have been removed as they do not meet the criteria outlined above.)
Bitcoin is the cryptocurrency that started it all back in 2009, after the global 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 used for peer-to-peer payments across the globe. 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 list 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 transaction-oriented design was the central focus of most blockchain projects.
Vitalik Buterins Ethereum whitepaper was released in late 2013. The job itself was announced January 2014, using a crowdsale the following July. The system went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain jobs have adopted Ethereum as website here their main intelligent contracts stage.
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Current banking infrastructure has failed to grow in the 21st century, such that it browse around this web-site 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 product is currently 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 easier than getting real life adoption for XRP.
If youre interested in seeing a discussion about the way XRP adoption will occur, you may find this reddit thread worth a read. Meanwhile, all people will just have to wait and see whether XRP adoption strategies ultimately come to fruition.