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Should you havent run into no less than a handful of folks who are cynical about the state of this 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 effort to learn how many of them actually had working products that are providing real worth. The same study done in 2017 might have afforded some truly discouraging benefits but, even now, the consequences arent exactly stellar.
Before we share those 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 rigorous with our standards.
When researching this guide, we evaluated each endeavors status, looked in its roadmap, assessed its release history, and compared completed attributes to what the team promises to provide in the future.
A working merchandise is active and available to the public. Its mainnet has probably been released 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 electronic currency transactions.
There are many projects in the top 100 who have launched their own mainnet, and can claim to have a working product by a loose definition. But, we have chosen not to include jobs which arent actually being used by any significant measure, which means that most 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 right here job when there is no burden on top of it Additionally, a dapp platform that 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 read through this list, find that their favorite project is missing, and then make 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 of them.
But should you think we made a mistake, we ask that you supply sources backing up that claim so that we may assess its own validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, which were originally on this listing, have been eliminated as they do not meet the criteria outlined above.)
Bitcoin is the cryptocurrency that started it all back in 2009, following the worldwide financial crisis and subsequent bailouts of banks abandoned many people disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Today, Bitcoin is being employed for peer-to-peer payments across the world. More than that, 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 was released in late 2013. The project 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 embraced Ethereum as 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 to get an international transfer to be processed. With only 4 second transaction times and in a fraction of the expense of a wire transfer, Ripples working product is already impacting the banking sector. .
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.
In case youre interested in seeing a discussion about how XRP adoption will occur, you may find that this reddit thread worth a read. Meanwhile, all of us will just have to wait and see whether XRP adoption plans link ultimately come to fruition.