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Should you havent run into at least a handful of people that are cynical about the condition of the 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 them really had working products that are providing real value. The same research done in 2017 may have yielded some truly discouraging benefits but, even now, the results arent exactly stellar.
Before we discuss the results with you, its important to define just what constitutes a working item 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 large bar to set. We wanted to be somewhat more rigorous with our standards.
When researching this article, we evaluated each endeavors status, looked in its roadmap, checked its release history, and compared finished attributes to what the team promises to deliver in the foreseeable future.
A working product is active and accessible to the general public. Its mainnet has likely been published 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 mainnet, and can claim to have a working product by a loose definition. But, we've chosen not to include jobs which arent really being used by any significant measure, 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 the product is working. After all, is a foundation really doing any work when there's no weight on top of it Additionally, a dapp stage that has a mainnet but that doesnt have any noteworthy dapps on top of it isnt considered working by this standards. .
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No doubt many people would browse through this list, find that their favorite job is missing, and then make a comment, What about XYZ project!! We welcome this feedback, as its entirely possible that a few jobs 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 provide sources backing up that claim so we may assess its own validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, that were originally on webpage this listing, 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 obsolete, insecure financial infrastructure.
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Today, Bitcoin is being employed for peer-to-peer payments throughout the globe. 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 brought smart contracts into 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 premiered in late 2013. The job 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 adopted Ethereum because their main smart contracts stage.
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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 to get an international transfer to be processed. With just 4 second transaction times and in a fraction of the cost of a cable 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 people will just have to wait and see whether XRP adoption plans ultimately come to fruition.