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If you havent run into at least a handful of people that 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 which are providing real worth. The same research done in 2017 might have afforded some truly discouraging results but, even now, the results arent just stellar.
Before we discuss the results with you, its important to define what exactly constitutes a working product in the first location.
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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 rigorous with our standards.
When researching this article, we evaluated each endeavors standing, looked in its roadmap, checked its release record, and compared finished attributes to what the group promises to deliver in the future.
A working merchandise is active and accessible to the general public. Its mainnet has likely been published for a while, bumping the version numbers well above 1.0. Businesses and individuals use it on a daily basis for dapps, smart contracts, or electronic currency transactions.
There are many jobs in the top 100 who have launched their own mainnet, and can claim to have a working product by a loose definition. However, we've chosen not to include jobs which arent really being used by any significant step, 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 the product is working. After all, is a foundation really doing any work when there is no burden on top of it Additionally, 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 will read through this listing, find that their favorite job is missing, and then make a comment, What about XYZ project!! We welcome this feedback, as its entirely possible that some projects have stronger user foundations than indicated in the prevalent documentation of them.
However, should you think 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, which were originally on this list, have been removed as they do not meet the criteria outlined previously.)
Bitcoin is the cryptocurrency that began it all back in 2009, after the worldwide financial crisis and subsequent bailouts of banks left many people disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Now, Bitcoin is being used 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. Without 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 transaction-oriented design was the central focus of most blockchain projects.
Vitalik Buterins Ethereum whitepaper premiered in late 2013. The project 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 jobs have embraced Ethereum because their visit the website 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 just 4 second transaction times and in a fraction of the expense of a cable transfer, Ripples working merchandise is currently 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 life adoption for XRP.
In case youre interested in seeing a discussion about how XRP adoption will occur, you may find that 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.