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Should you havent run into no less than a handful of folks that are cynical about the state of the blockchain industry and think its mostly scams and vaporware, well you probably havent been into crypto for quite long.
We researched the very best 100 cryptocurrencies (by market cap) in an effort to learn how many of these really had working products that are providing real worth. The identical research done in 2017 may have afforded some truly discouraging results however, even now, the results arent exactly stellar.
Before we discuss those results with you, its important to define what exactly constitutes a working item 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 high bar to set. We wanted to be a bit more strict with our standards.
When researching this guide, we evaluated each projects standing, looked in its roadmap, assessed its launch record, and compared completed attributes to what the team promises to deliver in the future.
A working merchandise is active and available to the general public. Its mainnet has probably been released for some time, bumping the version numbers well over 1.0. Businesses and individuals use it on a daily basis for dapps, smart contracts, or electronic currency transactions.
There are many projects in the top 100 who have launched their own mainnet, and can claim to have a working product with a loose definition. However, we have chosen not to include jobs which arent actually being used by any significant measure, 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 the item is working. After all, is a foundation doing any this page job 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 criteria. .
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No doubt many people would browse through this listing, find their favorite project is missing, and then make a comment, What about XYZ job!! We welcome this feedback, as its entirely possible that some projects have stronger user bases than indicated in the prevalent documentation of them.
But should you think that we made a mistake, we ask that you supply sources backing up that promise so that we can assess its own validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, which were originally on this listing, have been eliminated as they do not meet the criteria outlined previously.)
Bitcoin is the cryptocurrency that started it all 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 used for peer-to-peer payments across 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. 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 own transaction-oriented design was the central focus of the majority of blockchain projects.
Vitalik Buterins Ethereum whitepaper was released in late 2013. The job 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 intelligent contracts platform.
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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 to get an international transfer to be processed. With only 4 second transaction times and in a fraction of the cost 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 much easier than getting real-world adoption for XRP.
In case youre interested in seeing a discussion about the way XRP adoption will occur, you might find that this reddit thread worth a read. Meanwhile, all people will just have to wait and see whether XRP adoption strategies ultimately come to fruition.