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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 quite 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 worth. The identical research done in 2017 may have yielded some truly discouraging results but, even now, the consequences arent exactly stellar.
Before we discuss those results with you, its important to define just what 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 a bit more strict with our criteria.
When researching this article, we evaluated each endeavors 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 product is active and available to the public. Its mainnet has probably been released for a while, bumping the version numbers well above 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 who have launched their mainnet, and can claim to have a working item with 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 their criteria. .
In other words, the mere existence of a product does not necessarily mean that the item is working. After all, is a foundation doing any work when there is no weight 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 look at this website this standards. .
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No doubt many people would read through this list, find that their favorite job is missing, and then leave a comment, What about XYZ project!! We welcome this feedback, as its entirely possible that some jobs have stronger user bases than indicated in the prevalent documentation of them.
However, should you think that we made a mistake, then we request that you provide sources backing up that claim so we may assess its validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, that were originally on this list, have been eliminated as they do not fulfill the standards outlined previously.)
Bitcoin is the cryptocurrency that began it all back in 2009, after the global financial crisis and subsequent bailouts of banks left many individuals disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Today, Bitcoin is being used for peer payments throughout the globe. 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 record 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 the majority of blockchain projects.
Vitalik Buterins Ethereum whitepaper premiered in late 2013. The project itself was announced January 2014, using a crowdsale the following July. The system went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain jobs have adopted Ethereum because their main smart contracts stage.
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Current banking infrastructure has failed to grow in the 21st century, such that it still takes 3-5 business days on average to get 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 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 simpler than getting real-world adoption for XRP.
In case youre interested in seeing a discussion about the way 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.