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If you havent run into no less than a handful of people who 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 very best 100 cryptocurrencies (by market cap) in an effort to learn how many of them really had working products which are providing real value. The same study done in 2017 might have yielded some truly discouraging results however, even now, the results arent exactly stellar.
Before we discuss those results with you, its important to define just what constitutes a working item in the first location.
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Considering that blockchain jobs are open-source, building a basic blockchain and launching it isnt a very large bar to set. We wanted to become somewhat more strict with our standards.
When researching this article, we assessed each endeavors standing, looked at its roadmap, assessed its launch record, and compared finished attributes to what the team promises to provide in the foreseeable future.
A working product is active and available to the public. Its mainnet has likely been released for some time, bumping the version numbers well above 1.0. Businesses and individuals use it on daily basis for dapps, smart contracts, or electronic currency transactions.
There are many projects in the top 100 that have launched their own mainnet, and can claim to have a working product by means of a loose definition. However, we have chosen not to include jobs which arent actually being used by any significant step, which means that nearly all of the recently launched mainnets will not yet meet our standards. .
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 burden on top of it Additionally, a dapp stage which 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 read through this listing, find that their favourite job is missing, and then make a comment, What about XYZ job!! We welcome this feedback, as its entirely possible that some projects have stronger user bases than indicated in the prevalent documentation of them.
However, if you do think that we made a mistake, we ask that you provide sources backing up that promise so we may assess its validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, which were originally on this list, have been removed useful site as they do not fulfill the standards outlined above.)
Bitcoin is the cryptocurrency that started it all back in 2009, after the worldwide financial crisis and subsequent bailouts of banks left many people disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Now, Bitcoin is being employed for peer-to-peer payments throughout the world. More than that, 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 brought 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 the majority of blockchain projects.
After Ethereum, teams saw the value of decentralized programs (dapps) and smart contracts, and changed their focus to compensate.
Vitalik Buterins Ethereum whitepaper premiered in late 2013. The project itself was announced January 2014, using a crowdsale the following July. The system went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain jobs get more have adopted Ethereum as their main intelligent contracts platform.
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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 fraction of the cost of a cable transfer, Ripples working merchandise 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 might find that this reddit thread worth a read. Meanwhile, all people will just have to wait and see if XRP adoption strategies ultimately come to fruition.