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If you havent run into no less than a handful of people who are cynical about the condition of this blockchain industry and think its mostly scams and vaporware, well you probably havent been into crypto for very long.
We researched the very best 100 cryptocurrencies (by market cap) in an attempt to learn how many of these really had working products that are providing real value. The identical study done in 2017 might have afforded some truly discouraging benefits however, even now, the consequences arent just stellar.
Before we share the results with you, its important to define just what constitutes a working product in the first location.
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Considering that blockchain projects are open-source, building a fundamental blockchain and launching it isnt a very large bar to set. We wanted to become somewhat more strict with our standards.
When researching this guide, we evaluated each projects standing, looked in its roadmap, checked its release record, and compared finished attributes 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 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 digital currency transactions.
There are many jobs in the top 100 that have launched their own mainnet, and can claim to have a working item by means of a loose definition. However, we have chosen not to include projects which arent really being used by any significant step, which means that nearly all of the recently launched mainnets will not yet meet our standards. .
In other words, the mere existence of a product does not necessarily mean the product is working. After all, is a foundation really doing any work when there is no burden 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 criteria. .
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No doubt many people would browse through this list, find their favorite project is missing, and then leave a comment, What about XYZ project!! We welcome this feedback, as its entirely possible that some projects have stronger user bases than indicated in the prevalent documentation about them.
However, should you think that we made a mistake, then we request that you supply sources backing up that claim so we can assess its 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 standards outlined above.)
Bitcoin is the cryptocurrency that began it back in 2009, following the worldwide financial crisis and subsequent bailouts of banks left many individuals disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Today, Bitcoin is being used for peer-to-peer payments throughout the globe. 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 list 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 transaction-oriented design was the central focus of the majority of blockchain projects.
Vitalik Buterins Ethereum whitepaper was released in dig this late 2013. The job itself was announced January 2014, with a crowdsale the following July. The system officially went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain projects have adopted Ethereum because their main smart contracts platform.
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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 for an international transfer to be processed. With only 4 second transaction times and at a fraction of the cost of a wire transfer, Ripples working merchandise 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 much simpler than getting real life adoption for XRP.
If youre interested in seeing a discussion about how 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 plans ultimately come to fruition.