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Should you havent run into no less than a handful of people 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 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 same research done in 2017 might have yielded some truly discouraging results but, even now, the consequences arent just stellar.
Before we discuss those results with you, its important to define just what constitutes a working product in the first location.
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Considering that blockchain jobs are open-source, building a basic blockchain and launching it isnt a very high bar to set. We wanted to become somewhat more strict with our standards.
When researching this guide, we evaluated each projects standing, looked at its roadmap, checked its release record, and compared finished features to what the group promises to provide in the future.
A working merchandise is active and accessible 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 electronic currency transactions.
There are many projects in the top 100 that have launched their mainnet, and can claim to have a working item by a loose definition. But, we have chosen not to include projects which arent really being used by any significant step, which means that most of the recently launched mainnets will not yet meet our standards. .
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 job when there's no weight on top of it Likewise, a dapp platform which has a mainnet but doesnt have any noteworthy dapps on top of it isnt considered working by this standards. .
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No doubt many people will read through this listing, find their favourite 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 foundations than indicated in the prevalent documentation about them.
However, if you do think that we made a mistake, we request that you provide sources backing up that promise so that we may 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 fulfill the standards outlined above.)
Bitcoin is the cryptocurrency that started try this out it all back in 2009, following the global financial crisis and subsequent bailouts of banks left many individuals disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Now, Bitcoin is being used for peer payments throughout the world. More than that, though, 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 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 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 main smart contracts platform.
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Current banking infrastructure has failed to evolve 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 in a fraction of the cost of a wire transfer, Ripples working product is already impacting the banking sector. .
The big knock against Ripple is that its native token, XRP, is utterly unnecessary. Indeed, driving adoption of Ripples banking solutions is far easier than getting real-world adoption for XRP.
If youre interested in seeing a discussion about the way XRP adoption will happen, you may find that this reddit thread worth a read. Meanwhile, all people will just have to wait and see if XRP adoption plans ultimately come to fruition.