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Should you havent run into at least a handful of folks who are cynical about the state of the blockchain industry and think its mostly 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 these actually had working products which are providing real value. The same research done in 2017 might have afforded some truly discouraging benefits but, even now, the consequences arent just stellar.
Before we share those results with you, its important to define what exactly constitutes a working product in the first place.
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Considering that blockchain projects are open-source, building a fundamental blockchain and launching it isnt a very large bar to set. We wanted to be somewhat more strict with our criteria.
When researching this article, we assessed each endeavors standing, looked at its roadmap, assessed its release record, and compared completed attributes to what the group promises to provide in the foreseeable future.
A working product is active and accessible to the general public. Its mainnet has likely been published 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 projects in the top 100 who have launched their mainnet, and can claim to have a working item by a loose definition. However, we have chosen not to include jobs which arent actually being used by any significant step, which means that most of the recently launched mainnets will not yet meet their standards. .
In other words, the mere existence of a product does not necessarily mean the product is working. After all, is a foundation really doing any work when there's no burden on top of it Likewise, a dapp stage which 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 list, find their favorite job is missing, and then leave 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 of them.
However, if you do think that we made a mistake, then we ask that you provide sources backing up that promise so that we can 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 criteria outlined previously.)
Bitcoin is the cryptocurrency that started it all back in 2009, after the worldwide financial crisis and subsequent pop over to this site bailouts of banks left many individuals disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Now, Bitcoin is being employed for peer-to-peer payments across the globe. More than that, though, 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 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.
Vitalik Buterins Ethereum whitepaper premiered in late 2013. The project 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 adopted 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 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 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 simpler than getting real-world adoption for XRP.
In case youre interested in seeing a discussion about how XRP adoption will occur, you may find this reddit thread worth a read. Meanwhile, all people will just have to wait and see whether XRP try this adoption strategies ultimately come to fruition.