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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 largely 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 actually had working products which are providing real value. The identical research done in 2017 might have yielded some truly discouraging results however, even now, the results arent just stellar.
Before we discuss 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 be somewhat more strict with our standards.
When researching this article, we evaluated each endeavors status, looked at its roadmap, checked its launch history, and compared completed attributes to what the team promises to deliver in the future.
A working merchandise is active and available to the public. Its mainnet has probably been published for some time, bumping the version numbers well over 1.0. Businesses and individuals use it on daily basis for dapps, smart contracts, or digital currency transactions.
There are many jobs in the top 100 that 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 really being used by any significant step, which means that nearly all 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 Additionally, a dapp platform 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 their favorite job is missing, and then check these guys out leave a comment, What about XYZ job!! We welcome this feedback, as its entirely possible that a few jobs have stronger user bases than indicated in the prevalent documentation of them.
However, should you think we made a mistake, we ask that you provide sources backing up that promise so that we may assess its own 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 criteria outlined previously.)
Bitcoin is the cryptocurrency that started it back in 2009, after the global 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-to-peer payments across the world. More than this, however, it is leading the way towards a future in which financial technology is trustless, secure, resilient, and censorship resistant. With no Bitcoin, this list would not exist.
The platform that attracted smart contracts into 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.
After Ethereum, teams noticed the value of decentralized programs (dapps) and smart contracts, and shifted their attention to compensate.
Vitalik Buterins Ethereum whitepaper was released in late 2013. The project 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 jobs have adopted Ethereum as their main intelligent contracts stage.
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Current banking infrastructure has 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 just 4 second transaction times and at a click here for info fraction of the cost of a cable 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 far browse around this web-site simpler than getting real life adoption for XRP.
In case youre interested in seeing a discussion about the way XRP adoption will happen, you might find this reddit thread worth a read. Meanwhile, all people will just have to wait and see whether XRP adoption strategies ultimately come to fruition.