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Should you havent run into at least a handful of people 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 very long.
We researched the top 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 consequences 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 projects are open-source, building a basic blockchain and launching it isnt a very large bar to set. We wanted to become a bit more strict with our standards.
When researching this guide, we assessed each projects status, looked at its roadmap, checked its release record, and compared completed attributes to what the team promises to deliver in the foreseeable future.
A working product is active and accessible to the public. Its mainnet has probably 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 digital currency transactions.
There are many projects in the top 100 that have launched their mainnet, and can claim to have a working item by means of a loose definition. However, we've chosen not to include projects which arent actually being used by any significant measure, which means that most of the recently launched mainnets will not yet meet our criteria. .
In other words, the mere existence of a product does not necessarily mean the item is working. After all, is a foundation really doing any work when there is no weight on top of it Likewise, a dapp stage 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 read through this list, find their favorite project is missing, and then leave 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.
However, should you think that we made a mistake, then we request that you provide sources backing up that promise so that we may assess its own validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, that were originally on this list, have been removed as they do not fulfill the standards outlined previously.)
Bitcoin is the cryptocurrency that began it back in 2009, following the global financial crisis and subsequent 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 throughout 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 brought smart contracts to 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 premiered 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 Continue then, hundreds of businesses, individuals, and blockchain jobs have adopted Ethereum as their main intelligent 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 to get an international transfer to be processed. With just 4 second transaction times and in a fraction of the expense of a wire transfer, Ripples working product is currently 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 much simpler than getting real-world adoption for XRP.
If youre interested in seeing a discussion about the way XRP adoption will happen, you might find that this reddit thread worth a read. Meanwhile, all of us will just have to wait and see if XRP adoption strategies ultimately come to fruition.