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Should you havent run into at least 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 attempt to learn how many of these really had working products which are providing real worth. The identical study done in 2017 might have afforded some truly discouraging benefits however, even now, the results arent exactly 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 jobs are open-source, building a fundamental blockchain and launching it isnt a very high bar to set. We wanted to become a bit more strict with our criteria.
When researching this guide, we evaluated each endeavors status, looked at its roadmap, checked its launch record, and compared completed attributes to what the team promises to provide in the future.
A working merchandise is active and available to the public. Its mainnet has likely been released for a while, bumping the version numbers well over 1.0. Businesses and individuals use it on a daily basis for dapps, smart contracts, or digital currency transactions.
There are many jobs in the top 100 who have launched their mainnet, and can claim to have a working product with a loose definition. However, we've chosen not to include projects which arent really 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 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 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 list, 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 jobs have stronger user foundations than indicated in the prevalent documentation of them.
But should you think that we made a mistake, then we request that you provide sources backing up that promise so we may assess its own validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, which were originally on this listing, have been eliminated as they do not meet the standards outlined above.)
Bitcoin is the cryptocurrency that began it back in 2009, following the worldwide financial crisis and subsequent bailouts of banks left many individuals disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Today, Bitcoin is being used for peer-to-peer payments across the globe. More than this, however, it is leading the way towards a future in which financial technology is trustless, secure, resilient, and censorship resistant. Without Bitcoin, this list 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 most blockchain projects.
Vitalik Buterins Ethereum whitepaper was released in late 2013. The project 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 projects have adopted Ethereum as their main smart contracts stage.
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Current banking infrastructure has failed to grow in the 21st century, such here that it still takes 3-5 business days on average to get an international transfer to be processed. With just 4 second transaction times and in a fraction of the cost of a wire transfer, Ripples working merchandise is already impacting the banking industry. .
The big knock against Ripple is that its native token, XRP, is utterly 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 happen, you may find this reddit thread worth a read. Meanwhile, all of us will just have to wait and see whether XRP adoption plans ultimately come to fruition.