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If you havent run into no less than a handful of folks who are cynical about the condition of this 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 these really had working products that are providing real value. The identical study done in 2017 may have afforded some truly discouraging benefits but, even now, the consequences arent just stellar.
Before we discuss the results with you, its important to define what exactly constitutes a working item in the first place.
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Considering that blockchain jobs are open-source, building a basic blockchain and launching it isnt a very large bar to set. We wanted to be somewhat more rigorous with our criteria.
When researching this article, we evaluated each endeavors standing, looked at its roadmap, checked its launch history, and compared finished attributes to what the group promises to provide in the foreseeable future.
A working product is active and available to the general public. Its mainnet has likely 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 digital currency transactions.
There are many jobs in the top 100 who have launched their mainnet, and can claim to have a working product by a loose definition. However, we have chosen not to include projects which arent actually being used by any significant step, 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 that the product is working. After all, is a foundation really doing any job when there is no weight on top of it Likewise, a dapp stage that has a mainnet but 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 list, find that their favourite project is missing, and then make 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 prevalent documentation of them.
However, if you do think we made a mistake, then we ask that you supply sources backing up that claim so that we can 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 meet the standards outlined above.)
Bitcoin is the cryptocurrency that started it all back in 2009, after the global financial crisis and subsequent bailouts of banks abandoned many individuals disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Today, Bitcoin is being employed for peer-to-peer payments throughout the world. More than this, though, 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 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 my blog Buterins Ethereum whitepaper was released 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 projects have embraced 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 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 view publisher site of the cost of a wire 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 if XRP adoption strategies ultimately come to fruition.