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If you havent run into no less than a handful of folks who are cynical about the state of this blockchain industry and think its mostly scams and vaporware, well you probably havent been into crypto for quite long.
We researched the top 100 cryptocurrencies (by market cap) in an attempt to learn how many of these actually had working products that are providing real value. The same research done in 2017 may have yielded some truly discouraging benefits however, even now, the results arent exactly stellar.
Before we share the results with you, its important to define just what constitutes a working item 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 standards.
When researching this article, we evaluated each projects status, looked in its roadmap, checked its launch history, and compared finished features to what the group promises to deliver in the foreseeable future.
A working merchandise is active and accessible to the general public. Its mainnet has probably 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 electronic currency transactions.
There are many jobs in the top 100 who have launched their mainnet, and can claim to have a working item by a loose definition. But, we've chosen not to include projects which arent really being used by any significant measure, 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 product is working. After all, is a foundation really doing any work when there's no weight on top of it Additionally, a dapp platform 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 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 bases than indicated in the additional resources prevalent documentation about them.
But if you do think that we made a mistake, then we request that you provide sources backing up that promise so that we can 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 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 used for peer-to-peer payments across the world. More than that, however, it's leading the way towards a future in which financial technology is trustless, secure, resilient, and censorship resistant. Without other 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 the majority of 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 evolve 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 expense of a wire transfer, Ripples working product is currently impacting the banking sector. .
The big knock against Ripple is that its native token, XRP, is utterly unnecessary. web Indeed, driving adoption of Ripples banking solutions is far simpler than getting real life adoption for XRP.
If youre interested in seeing a discussion about how XRP adoption will happen, you might find this reddit thread worth a read. Meanwhile, all of us will just have to wait and see whether XRP adoption strategies ultimately come to fruition.