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If you havent run into at least a handful of folks who 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 them actually had working products which are providing real worth. The same research done in 2017 might have yielded some truly discouraging benefits but, even now, the consequences arent just stellar.
Before we discuss 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 jobs are open-source, building a basic blockchain and launching it isnt a very large bar to set. We wanted to be somewhat more strict with our standards.
When researching this article, we evaluated each projects status, looked in its roadmap, assessed its release record, and compared completed features to what the team promises to deliver in the future.
A working product is active and available to the general public. Its mainnet has probably been published for a while, bumping the version numbers well above 1.0. Businesses and individuals use it on a daily basis for dapps, smart contracts, or digital currency transactions.
There are many projects in the top 100 that have launched their mainnet, and can claim to have a working item with means of a loose definition. But, we've 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 their standards. .
In other words, the mere existence of a product does not necessarily mean the item is working. After all, is a foundation doing any job when there's no burden on top of it Additionally, 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 would read through this listing, find that their favourite project is missing, and then make a comment, What about XYZ project!! We welcome this feedback, you can try this out as its entirely possible that a few jobs have stronger user foundations than indicated in the prevalent documentation about them.
But if you do think that my blog we made a mistake, then we request that you provide sources backing up that promise so that we can assess its own validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, which were originally on this listing, have been removed as they do not meet the standards outlined previously.)
Bitcoin is the cryptocurrency that started it all back in 2009, after the worldwide financial crisis and subsequent bailouts of banks abandoned many people disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Today, Bitcoin is being employed for peer payments across the world. More than this, though, it is leading the way towards a future in which financial technology is trustless, secure, resilient, and censorship resistant. With no 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 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 went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain projects have embraced Ethereum because 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 only 4 second transaction times and in a fraction of the cost 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 simpler than getting real-world adoption for XRP.
In case youre interested in seeing a discussion about the way XRP adoption will happen, you might 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.