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If you havent run into at least 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 very long.
We researched the top 100 cryptocurrencies (by market cap) in an attempt to learn how many of these really had working products that are providing real value. The identical research done in 2017 might have afforded some truly discouraging results however, even now, the consequences arent just stellar.
Before we discuss the results with you, its important to define just what constitutes a working product 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 somewhat more strict with our criteria.
When researching this article, we evaluated each endeavors standing, looked at its roadmap, checked its release record, and compared completed attributes to what the team promises to provide in the future.
A working product is active and accessible to the public. Its mainnet has likely been released for some time, bumping the version numbers well over 1.0. Businesses and individuals use it on a daily basis for dapps, smart contracts, or electronic currency transactions.
There are many jobs in the top 100 who have launched their mainnet, and can claim to have a working item with a loose definition. However, 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 their criteria. .
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 burden on top of it Additionally, a dapp stage that has a mainnet but that doesnt have any noteworthy dapps on top of it isnt considered working by this criteria. .
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No doubt many people would browse through this listing, find that their favourite 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 foundations than indicated in the prevalent documentation about them.
However, should you think we made a mistake, then we request that you supply sources backing up that promise so that we may assess its own validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, which were originally on this list, have been removed as they do not meet the criteria outlined above.)
Bitcoin is the cryptocurrency that started it back in 2009, following the worldwide financial great post to read crisis and subsequent bailouts of banks left many people disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Now, Bitcoin is being employed for peer-to-peer payments throughout the globe. More than this, though, it's leading the way towards a future in which financial technology is trustless, secure, resilient, and censorship resistant. Without Bitcoin, this record 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 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, using a crowdsale the following July. The system officially went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain projects have adopted Ethereum have a peek at these guys because 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 for an international transfer to be processed. With only 4 second transaction times and in a fraction of the cost of a wire transfer, Ripples working merchandise is currently 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 far simpler than getting real life adoption for XRP.
If youre interested in seeing a discussion about how XRP adoption will occur, you may find this reddit thread worth a read. Meanwhile, all of us will just have to wait and see whether XRP adoption strategies ultimately come to fruition.