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If you havent run into at least a handful of people that are cynical about the state of the blockchain industry and think its largely scams and vaporware, well you probably havent been into crypto for very long.
We researched the top 100 cryptocurrencies (by market cap) in an attempt to learn how many of these really had working products which are providing real worth. The identical study 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 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 a bit more strict with our standards.
When researching this article, we assessed each endeavors status, looked at its roadmap, assessed its launch record, and compared finished attributes to what the team promises to provide in the future.
A working product is active and available to the public. Its mainnet has probably been released for a while, bumping the version numbers well above 1.0. Businesses and individuals use it on 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 by 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 their standards. .
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 job when there is no burden 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 browse through this list, find that their favourite job is missing, and then make a comment, What about XYZ project!! We welcome this feedback, as its entirely possible that a few jobs have stronger user foundations than indicated in the prevalent documentation of them.
But should you think that we made a mistake, then we request that you supply sources backing up that promise so that we may assess its validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, which were originally on this listing, have been eliminated as they do not fulfill the criteria outlined above.)
Bitcoin is the cryptocurrency that started it all back in 2009, following the worldwide financial crisis and subsequent bailouts of banks abandoned many individuals disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Today, Bitcoin is being used for peer-to-peer payments throughout the globe. 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 attracted 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 premiered in late 2013. my explanation 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 embraced 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 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 currently impacting the banking sector. .
The big knock against Ripple is that its native token, XRP, is utterly 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 may find this reddit thread worth a read. Meanwhile, all of us will just have to wait and see whether XRP adoption strategies ultimately come to fruition.