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Should you havent run into no less than a handful of folks who are cynical about the state of the blockchain industry and think its mostly 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 them actually had working products that are providing real worth. The same study done in 2017 might have afforded some truly discouraging benefits however, even now, the consequences arent just stellar.
Before we share 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 jobs 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 standards.
When researching this article, we evaluated each endeavors status, looked in its roadmap, checked its release history, and compared completed attributes to what the team promises to deliver 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 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 that have launched their own mainnet, and can claim to have a working item by means of a loose definition. However, we've chosen not to include projects which arent actually being used by any significant step, which means that most of the recently launched mainnets will not yet meet their 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 weight on top of it Likewise, a dapp stage 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 browse through this list, find that their favourite job is missing, and then leave a comment, What about XYZ job!! We welcome this feedback, as its entirely possible that some projects have stronger user foundations than indicated in the prevalent documentation of them.
However, should you think that we made a mistake, we request that you provide sources backing up that claim so we can assess its validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, that were originally on this list, have been eliminated as they do not meet the standards outlined previously.)
Bitcoin is the cryptocurrency that began it back in 2009, following the global financial crisis and basics subsequent bailouts of banks abandoned many people disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Today, Bitcoin is being used for peer-to-peer payments across the world. 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 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 premiered in late 2013. The project 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 embraced Ethereum as their main intelligent 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 to get an useful content international transfer to be processed. With only 4 second transaction times and at a fraction of the cost of a cable transfer, Ripples working product is already 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-world adoption for XRP.
If youre interested in seeing a discussion about how XRP adoption will happen, you might find this reddit thread worth a read. Meanwhile, all people will just have to wait and see if XRP adoption plans ultimately come to fruition.