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Should 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 quite long.
We researched the top 100 cryptocurrencies (by market cap) in an effort to learn how many of them really had working products that are providing real worth. The same research done in 2017 may have afforded some truly discouraging results however, even now, the results arent just stellar.
Before we discuss the results with you, its important to define what exactly constitutes a working product 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 large bar to set. We wanted to be a bit more strict with our criteria.
When researching this article, we evaluated each projects standing, looked in its roadmap, checked its launch record, and compared completed attributes to what the group promises to provide in the foreseeable future.
A working product is active and available 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 mainnet, and can claim to have a working product with a loose definition. But, we've chosen not to include projects which arent actually being used by any significant step, which means that nearly all 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 doing any work when there's no burden on top of it Likewise, 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 list, 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 some jobs have stronger user foundations 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 claim so that we may assess its validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, which were originally on this listing, have been eliminated as they do not fulfill 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 left many individuals disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Now, Bitcoin is being employed for peer payments across the globe. More than that, however, it is 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 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 most blockchain projects.
Vitalik Buterins Ethereum whitepaper was released in late 2013. The job itself was announced January 2014, with 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 as check out this site their main intelligent contracts platform.
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Current banking infrastructure has failed to grow 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 product 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 far easier than getting real-world adoption for XRP.
If youre interested in seeing a discussion about the way XRP adoption will occur, you might find that this reddit thread worth a read. Meanwhile, all people will just have to wait and see whether XRP adoption plans ultimately come to fruition.