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If you havent run into at least a handful of people that are cynical about the state of the blockchain industry and think its largely scams and vaporware, well you probably havent been into crypto for very 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 worth. The same research done in 2017 may have afforded some truly discouraging results however, even now, the results arent just stellar.
Before we share those results with you, its important to define just what constitutes a working item 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 high bar to set. We wanted to become a bit more strict with our standards.
When researching this guide, we assessed each projects standing, looked at its roadmap, assessed its launch record, and compared completed features 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 probably been published for some time, bumping the version numbers well above 1.0. Businesses and individuals use it on 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 by means of a loose definition. However, 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 their 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 burden 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 read through this listing, find that their favorite project is missing, and then leave 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.
But if you do think that we made a mistake, we ask that you provide sources backing up that claim so we can assess its own validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, that were originally on this listing, have been removed as they do not meet the criteria outlined above.)
Bitcoin is the cryptocurrency that started it back in 2009, following the global financial crisis and subsequent bailouts of banks left many individuals disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Now, Bitcoin is being employed for peer payments across the globe. More than this, though, it's leading the way towards a future in which financial technology is trustless, secure, resilient, and censorship resistant. With no 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 own transaction-oriented design was the central focus of most blockchain projects.
Following Ethereum, teams noticed the value of decentralized apps (dapps) and clever contracts, and changed their attention to compensate.
Vitalik Buterins Ethereum whitepaper was released 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 platform.
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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 for click here to read 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 product is already impacting the banking industry. .
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-world adoption for XRP.
If youre interested in seeing a discussion about how XRP adoption will happen, you may find this reddit thread worth a read. Meanwhile, all of us will just have to wait and see internet if XRP adoption strategies ultimately come to fruition.