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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 very long.
We researched the very best 100 cryptocurrencies (by market cap) in an attempt to learn how many of them really had working products which are providing real value. The identical study done in 2017 may have yielded some truly discouraging benefits however, even now, the consequences arent exactly stellar.
Before we discuss those results with you, its important to define what exactly constitutes a working item 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 somewhat more rigorous with our criteria.
When researching this guide, we evaluated each projects status, looked in its roadmap, checked its launch history, and compared finished attributes to what the team promises to provide in the future.
A working merchandise is active and available to the general public. Its mainnet has probably been published for some time, 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 projects in the top 100 that have launched their own mainnet, and can claim to have a working product by 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 nearly all of the recently launched mainnets will not yet meet their criteria. .
In other words, the mere existence of a product does not necessarily mean that the product is working. After all, is a foundation doing any work when there's no burden on top of it Likewise, a dapp click to read platform that has a mainnet but that doesnt have any noteworthy dapps on top of it isnt considered working by this standards. .
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No doubt many people would browse through this listing, find 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 of them.
But if you do think we made a mistake, we request that you supply sources backing up that claim so we can assess its own validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, that were originally on this listing, have been removed as they do not meet the standards outlined previously.)
Bitcoin is the cryptocurrency that began it back in 2009, following the worldwide 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 globe. More than this, however, 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 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 then, hundreds of businesses, individuals, and blockchain jobs have embraced Ethereum because their main smart contracts platform.
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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 for an international transfer to be processed. With only 4 second transaction times and at a fraction of the cost of a cable transfer, Ripples working merchandise is currently impacting the banking sector. .
The big knock against Ripple is that click to read its native token, XRP, is completely unnecessary. Indeed, driving adoption of Ripples banking solutions is far simpler than getting real life adoption for XRP.
In case youre interested in seeing a discussion about how XRP adoption will occur, 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.