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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 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 effort to learn how many of them really had working products that are providing real worth. The same study done in 2017 might have afforded some truly discouraging benefits but, even now, the results arent exactly stellar.
Before we share those results with you, its important to define just what 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 high bar to set. We wanted to become a bit more strict with our standards.
When researching this guide, we assessed each projects status, looked in its roadmap, checked its release history, and compared finished attributes to what the group promises to deliver in the future.
A working merchandise is active and accessible 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 daily basis for dapps, smart contracts, or digital currency transactions.
There are many jobs in the top 100 that have launched their mainnet, and can claim to have a working item with means of a loose definition. But, we have 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 that the product is working. After all, is a foundation really doing any work when there's no burden on top of it Additionally, a dapp stage that 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 would read through this listing, find that their favorite job is missing, and then leave a comment, What about XYZ job!! We welcome this feedback, as its entirely possible that a few projects have stronger user foundations than indicated in the prevalent documentation about them.
But more should you think that we made a mistake, we ask that you supply sources backing up that claim so we may assess its own validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, which were originally on this listing, have been removed as they do not meet the criteria outlined previously.)
Bitcoin is the cryptocurrency that started it all back in 2009, after the global financial crisis and subsequent bailouts of banks left many people disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Now, Bitcoin is being employed for peer-to-peer payments across the world. More than that, though, 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 to 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 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 then, hundreds of businesses, individuals, and blockchain projects have embraced Ethereum as 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 just 4 second transaction times and at a fraction of the expense of a cable transfer, Ripples working merchandise 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 simpler than getting real-world adoption for XRP.
If youre interested in seeing a discussion about how XRP adoption why not try this out will occur, you might find that this reddit thread worth a read. Meanwhile, all people will just have to wait and see if XRP adoption plans ultimately come to fruition.