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If you havent run into no less than a handful of people that are cynical about the state of this 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 these really had working products that are providing real worth. The same research done in 2017 may have afforded some truly discouraging results however, even now, the consequences arent exactly stellar.
Before we discuss the results with you, its important to define what exactly constitutes a working product in the first place.
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Considering that blockchain projects are open-source, building a fundamental blockchain and launching it isnt a very large bar to set. We wanted to be somewhat more strict with our standards.
When researching this guide, we evaluated each projects status, looked in its roadmap, checked its launch history, and compared completed attributes to what the group promises to deliver in the future.
A working merchandise is active and accessible to the general public. Its mainnet has likely been published for some time, 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 projects in the top 100 who have launched their own mainnet, and can claim to have a working product with a loose definition. But, we have chosen not to include projects which arent really being used by any significant measure, which means that most of the recently launched mainnets will not yet meet our 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 Additionally, a dapp stage that 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 will read through this listing, find their favorite job is missing, and then make a comment, What about see this here XYZ project!! We welcome this feedback, as its entirely possible that a few jobs have stronger user bases than indicated in the prevalent documentation about them.
But if you do think that we made a mistake, then we ask that you provide sources backing up that promise so that we can assess its own validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, that were originally on this listing, have been removed as they do not fulfill the criteria outlined above.)
Bitcoin is the cryptocurrency that began it all 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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Now, Bitcoin is being employed for peer-to-peer payments throughout the globe. More than that, though, it is 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 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 job 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 jobs have adopted Ethereum because 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 expense 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 much easier than getting real life adoption for XRP.
If youre interested in seeing a discussion about how XRP adoption will occur, you may find this reddit thread worth more tips here a read. Meanwhile, all of us will just have to wait and see if XRP adoption strategies ultimately come to fruition.