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If you havent run into no less than a handful of folks that 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 them actually had working products that are providing real worth. The identical study done in 2017 may have yielded some truly discouraging results but, even now, the results arent just stellar.
Before we share the results with you, its important to define what exactly constitutes a working product 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 large bar to set. We wanted to be a bit more rigorous with our standards.
When researching this article, we assessed each endeavors standing, looked in its roadmap, assessed its release history, and compared finished 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 likely been published for a while, 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 product with means of a loose definition. However, we've chosen not to include jobs which arent really being used by any significant measure, 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 that the item is working. After all, is a foundation doing any job when there's 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 standards. .
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No doubt many people will read through this listing, find their favourite job 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 foundations than indicated in the prevalent documentation about them.
But if you do think we made a mistake, then we ask that you supply sources backing up that claim so that we may assess its validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, that were originally on this listing, have been removed as they do not meet the standards 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 outdated, insecure financial infrastructure.
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Now, Bitcoin is being employed for peer payments throughout the world. More than that, 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 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 project itself was announced January 2014, with a crowdsale the following July. The system went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain projects have embraced Ethereum because their main smart contracts platform.
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Current banking infrastructure has failed to grow in the 21st century, such that it still 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 already 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 much easier than getting real life adoption for XRP.
In case 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 strategies ultimately come to fruition.