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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 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 attempt to learn how many of these really had working products that are providing real worth. The same study done in 2017 might have afforded some truly discouraging results however, even now, the consequences arent exactly 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 high bar to set. We wanted to become a bit more rigorous with our standards.
When researching this article, we assessed each endeavors standing, looked at its roadmap, checked its release history, and compared finished attributes to what the group promises to provide in the foreseeable 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 a daily basis for dapps, smart contracts, or digital currency transactions.
There are many jobs in the top 100 who have launched their own mainnet, and can claim to have a working item by a loose definition. However, we've chosen not to include jobs 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 doing any work when there's no weight on top of it Additionally, a dapp stage which has a anonymous 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 leave 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.
But should you think we made a mistake, we request that you provide sources backing up that promise so that we may assess its validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, that were originally on this list, have been removed as they do not meet the standards outlined previously.)
Bitcoin is the cryptocurrency that began it back in 2009, after the global financial crisis and subsequent bailouts of banks abandoned many people disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Now, Bitcoin is being used for peer payments across 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. With no 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 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 went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain projects have embraced Ethereum because their main smart contracts stage.
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Current banking infrastructure has failed to evolve in the 21st century, such that her latest blog it still takes 3-5 business days on average for an international transfer to be processed. With only 4 second transaction times and in a fraction of the expense of a cable transfer, Ripples working product 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 much simpler than getting real life adoption for XRP.
If youre interested in seeing a discussion about how XRP adoption will occur, you may find that this reddit thread worth a read. Meanwhile, all people will just have to wait and see whether XRP adoption strategies ultimately come to fruition.