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If you havent run into no less than a handful of people who are cynical about the state of this blockchain industry and think its largely 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 them actually had working products which are providing real worth. The same research done in 2017 may have yielded some truly discouraging benefits however, even now, the consequences arent exactly stellar.
Before we share those results with you, its important to define what exactly constitutes a working product 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 somewhat more strict with our standards.
When researching this article, we evaluated each projects status, looked in its roadmap, checked its release record, and compared completed features to what the group promises to provide in the foreseeable future.
A working merchandise is active and accessible to the general public. Its mainnet has likely been released for some time, bumping the version numbers well over 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 who have launched their mainnet, and can claim to have a working product with means of a loose definition. But, we have 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 criteria. .
In other words, the mere existence of a product does not necessarily mean that the product is working. After all, is a foundation doing any work when there's no burden on top of it Additionally, a dapp stage 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 browse through this list, find that their favorite project is missing, and then make 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 of them.
However, should you think we made a click to investigate mistake, we request that you supply sources backing up that promise so that we may assess its validity.
(Editors note: Upon further study and consideration, OmiseGO and dig this Verge, that were originally on this list, have been removed as they do not meet the standards outlined above.)
Bitcoin is the cryptocurrency that began it all back in 2009, after the global financial crisis and subsequent bailouts of banks left many people disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Today, Bitcoin is being used for peer payments throughout the globe. More than this, 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 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 Buterins Ethereum whitepaper was released 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, Get More Information individuals, and blockchain jobs have adopted Ethereum as 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 for an international transfer to be processed. With just 4 second transaction times and in a fraction of the expense of a cable transfer, Ripples working merchandise is currently 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 easier than getting real-world adoption for XRP.
If youre interested in seeing a discussion about how XRP adoption will happen, you might find this reddit thread worth a read. Meanwhile, all people will just have to wait and see if XRP adoption plans ultimately come to fruition.