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Should you havent run into no less than a handful of people that are cynical about the state of the blockchain industry and think its mostly scams and vaporware, well you probably havent been into crypto for very 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 value. The same research done in 2017 may have yielded some truly discouraging benefits but, even now, the consequences arent just stellar.
Before we discuss those results with you, its important to define what exactly constitutes a working item in the first place.
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Considering that blockchain jobs are open-source, building a fundamental blockchain and launching it isnt a very large bar to set. We wanted to be somewhat more rigorous with our criteria.
When researching this article, we evaluated each projects standing, looked at its roadmap, checked its release history, and compared completed features to what the group promises to deliver in the foreseeable future.
A working product is active and available to the general public. Its mainnet has likely 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 jobs in the top 100 who have launched their mainnet, and can claim to have a working product with means of a loose definition. But, we have 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 our criteria. .
In other words, the mere existence of a product does not necessarily mean the item is working. After all, is a foundation doing any job when there is no burden on top of it Likewise, a dapp platform which 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 read through this list, find their favorite project is missing, and then leave a comment, What about XYZ job!! We welcome this official statement feedback, as its entirely possible that a few projects have stronger user foundations than indicated in the prevalent documentation about them.
However, if you do think that we made a mistake, then we ask that you supply sources backing up that claim so we may assess its validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, that were originally on this listing, have been removed as they do not fulfill the standards outlined previously.)
Bitcoin is the cryptocurrency that began it back in 2009, after the worldwide financial crisis and subsequent bailouts of banks left many people disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Today, Bitcoin is being used for peer payments throughout the world. More than that, however, it is 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 to 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, learn the facts here now with a crowdsale the following July. The system officially went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain projects have adopted Ethereum because 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 for an international transfer to be processed. With just 4 second transaction times and at a fraction of the cost of a wire transfer, Ripples working merchandise is already impacting the banking sector. .
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.
In case youre interested in seeing a discussion about how XRP adoption will happen, you might find that this reddit thread worth a read. Meanwhile, all of us will just have to check out this site wait and see if XRP adoption plans ultimately come to fruition.