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Should you havent run into no less than a handful of people that 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 top 100 cryptocurrencies (by market cap) in an attempt to learn how many of these actually had working products which are providing real worth. The same study done in 2017 might have yielded some truly discouraging results however, even now, the consequences arent just stellar.
Before we share those results with you, its important to define just what constitutes a working product in the first place.
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Considering that blockchain projects are open-source, building a basic blockchain and launching it isnt a very high bar to set. We wanted to be a bit more rigorous with our criteria.
When researching this article, we evaluated each endeavors standing, looked in its roadmap, assessed its launch history, and compared finished features to what the team promises to provide in the future.
A working merchandise is active and available to the public. Its mainnet has likely been published for a while, 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 jobs in the top 100 who have launched their own mainnet, and can claim to have a working item by 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 item 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 will browse through this listing, find their favorite job is missing, and then leave a comment, What about XYZ project!! We welcome this feedback, as its entirely possible that a few jobs have stronger user foundations than indicated in the prevalent documentation about them.
However, if you do think that we made a mistake, then we request that you provide sources backing up that claim so we may assess its validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, which were originally on this listing, have been removed as they do not fulfill the criteria outlined previously.)
Bitcoin is the cryptocurrency that started it back in 2009, after the global financial crisis and subsequent bailouts of banks left many people 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 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 transaction-oriented design was the central focus of the majority of 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 officially went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain projects have adopted Ethereum as their main intelligent contracts stage.
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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 to get an international transfer to be processed. With only 4 second transaction times and at a fraction of the expense 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 completely 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 this reddit thread this article worth a read. Meanwhile, all of us will just have to wait and see if XRP adoption plans ultimately come to fruition.