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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 top 100 cryptocurrencies (by market cap) in an attempt to learn how many of these really had working products which are providing real value. The same study done in 2017 might have yielded some truly discouraging benefits however, even now, the consequences arent exactly stellar.
Before we share the results with you, its important to define what exactly constitutes a working product 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 a bit more strict with our criteria.
When researching this article, we evaluated each projects status, looked in its roadmap, assessed its launch record, and compared finished attributes to what the team promises to deliver in the future.
A working product is active and available to the public. Its mainnet has probably been published 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 electronic currency transactions.
There are many projects in the top 100 who have launched their own mainnet, and can claim to have a working item with a loose definition. But, we've chosen not to include projects which arent actually 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 burden on top of it Likewise, a dapp platform 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 list, find their favourite job is missing, and then leave a comment, What about XYZ job!! We welcome this feedback, as its entirely possible that a few projects have stronger user foundations than indicated in the prevalent documentation about them.
But should you think we made a mistake, we ask that you imp source provide sources backing up that promise so that we may assess its validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, which were originally on this list, have been eliminated as they do not fulfill the standards outlined previously.)
Bitcoin is the cryptocurrency that started it all back in 2009, after the global 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 throughout the world. More than that, 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 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, using a crowdsale the following July. The system officially went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain projects have embraced Ethereum because their main intelligent contracts stage.
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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 just 4 second transaction times and in a fraction of the expense of a wire transfer, Ripples working product is currently 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 simpler than getting real-world adoption for XRP.
In case youre interested in seeing a discussion about how XRP adoption will happen, you might 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.