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Should you havent run into no less than a handful of people who are cynical about the condition 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 actually had working products that are providing real value. The same study done in 2017 might have afforded some truly discouraging benefits but, even now, the consequences arent just stellar.
Before we discuss the results with you, its important to define just what constitutes a working item 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 large bar to set. We wanted to be somewhat more rigorous with our criteria.
When researching this guide, we evaluated each projects status, looked at its roadmap, assessed its release history, and compared completed attributes to what the team promises to provide in the future.
A working merchandise is active and available to the general public. Its mainnet has likely been published 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 projects in the top 100 that have launched their mainnet, and can claim to have a working product with means of a loose definition. However, we have chosen not to include projects which arent really 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's no weight 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 standards. .
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No doubt many people would browse through this list, find their favorite job is missing, and then make a comment, What about XYZ project!! We welcome this feedback, as its entirely possible that a few projects have stronger user bases than indicated in the prevalent documentation about them.
But if you do think we made a mistake, then we request that you provide sources backing up that claim so we may assess its own validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, that were originally on this list, have been eliminated as they do not fulfill the standards 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 individuals disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Today, Bitcoin is being used for peer-to-peer payments across the globe. More than this, however, it's 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 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 was released in late 2013. The project 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 as their main intelligent contracts stage.
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Current banking infrastructure has like this failed to grow in the 21st century, such that it takes 3-5 business days on average to get an international transfer to be processed. With only 4 second transaction times and in a fraction of the cost of a cable transfer, Ripples working product is already impacting the banking industry. .
The big knock against Ripple is that its native token, visit here XRP, is completely unnecessary. Indeed, driving adoption of Ripples banking solutions is much easier than getting real-world adoption for XRP.
If youre interested in seeing a discussion about the way XRP adoption will occur, you might find that this reddit thread worth a read. Meanwhile, all people will just have to wait and see if XRP adoption plans ultimately come to fruition.