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Should you havent run into at least a handful of folks who are cynical about the state of the 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 effort to learn how many of these actually had working products that are providing real worth. The same research done in 2017 might have yielded some truly discouraging results however, even now, the consequences arent just stellar.
Before we share those results with you, its important to define just what 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 high bar to set. We wanted to be somewhat more rigorous with our standards.
When researching this article, we assessed each projects standing, looked in its roadmap, checked its launch history, and compared finished attributes to what the team promises to deliver in the future.
A working product is active and accessible to the public. Its mainnet has probably been published 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 electronic currency transactions.
There are many projects 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 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 work when there is no burden 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 listing, find their favorite job is missing, and then make a comment, What about XYZ job!! We welcome this feedback, as its entirely possible that some jobs have stronger user foundations than indicated in the prevalent documentation of them.
However, if you do think that we made a mistake, then we ask that you provide sources backing up that claim so that we can assess its validity.
(Editors note: Upon further research and consideration, OmiseGO and why not check here Verge, which were originally on this listing, have been eliminated as they do not fulfill the standards outlined previously.)
Bitcoin is the cryptocurrency that began it 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 employed for peer-to-peer payments across 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 platform that brought smart contracts into the blockchain, spurring a minor revolution in the cryptocurrency ecosystem. Before Ethereum, Bitcoin and its own 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 Continued January 2014, using a crowdsale the following July. The system officially went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain jobs have adopted Ethereum as their main intelligent contracts stage.
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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 international transfer to be processed. With just 4 second transaction times and at a fraction of the expense 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 far easier than getting real-world adoption for XRP.
If youre interested in seeing a discussion about the way XRP adoption link will occur, you may find this reddit thread worth a read. Meanwhile, all of us will just have to wait and see if XRP adoption strategies ultimately come to fruition.