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Should you havent run into at least a handful of people that are cynical about the state of this 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 them really had working products which are providing real value. The same study done in 2017 might have afforded some truly discouraging results but, even now, the consequences arent exactly stellar.
Before we discuss those results with you, its important to define what exactly constitutes a working product in the first location.
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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 be somewhat more rigorous with our standards.
When researching this article, we assessed each projects standing, looked in its roadmap, assessed its launch history, and compared finished features to what the group promises to deliver in the foreseeable future.
A working product is active and accessible to the public. Its mainnet has probably 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 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 projects which arent really being used by any significant measure, which means that nearly all 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 doing any work when there's no weight 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 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 jobs have stronger user foundations than indicated in the prevalent documentation about them.
However, if you do think that we made a mistake, we ask that you supply sources backing up that promise so that we can assess its validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, that were originally on this listing, have been eliminated as they do not meet the criteria outlined above.)
Bitcoin is the cryptocurrency that started it back in 2009, following the worldwide financial crisis and subsequent bailouts of banks abandoned many individuals disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Now, Bitcoin is being employed for click this 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 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 was released in late 2013. The job itself was announced January 2014, with a crowdsale the following July. The system went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain projects have embraced Ethereum as their main smart contracts stage.
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Current banking infrastructure has failed to grow 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 at a fraction of the cost of a cable transfer, Ripples working merchandise is already 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 easier than getting real-world adoption for XRP.
If youre interested in seeing a discussion about how 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.