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If you havent run into at least a handful of folks who 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 very best 100 cryptocurrencies (by market cap) in an attempt to learn how many of them really had working products which are providing real value. The same research done in 2017 may have yielded some truly discouraging benefits however, 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 location.
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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 become a bit more rigorous with our criteria.
When researching this article, we assessed each endeavors status, looked at its roadmap, assessed its release record, and compared finished attributes to what the team promises to provide in the foreseeable future.
A working product is active and accessible to the general public. Its mainnet has probably been released 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 digital currency transactions.
There are many projects in the top 100 that have launched their own mainnet, and can claim to have a working product with means of a loose definition. But, we have chosen not to include jobs which arent really being used by any significant measure, which means that most of the recently launched mainnets will not yet meet our criteria. . my response
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 is no weight on top of it Likewise, a dapp platform which has a mainnet but doesnt have any noteworthy dapps on top of it isnt considered working by this standards. .
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No doubt many people will browse through this listing, find their favourite project is missing, and then 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 that we made a mistake, then we request that you supply sources backing up that promise so 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 started it all back in 2009, after 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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Now, Bitcoin is being used for peer-to-peer payments throughout the world. 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 list 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 own transaction-oriented design was the central focus of most blockchain projects.
After Ethereum, teams saw the value of decentralized apps (dapps) and smart contracts, and shifted their attention to compensate.
Vitalik Buterins Ethereum whitepaper premiered in late 2013. read more The job itself was announced January 2014, using 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 still takes 3-5 business days on average for an international transfer to be processed. With only 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 utterly unnecessary. Indeed, driving adoption of Ripples banking solutions is far easier than getting real-world adoption for XRP.
In case youre interested in seeing a discussion about how XRP adoption will happen, you may find that this reddit thread worth a read. Meanwhile, all people will just have to wait and see link whether XRP adoption plans ultimately come to fruition.