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Should you havent run into at least a handful of folks who 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 actually had working products that are providing real worth. The identical study done in 2017 may have yielded some truly discouraging benefits but, even now, the consequences arent just stellar.
Before we discuss those results with you, its important to define what exactly constitutes a working product in the first place.
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Considering that blockchain projects are open-source, building a fundamental blockchain and launching it isnt a very high bar to set. We wanted to become somewhat more rigorous with our standards.
When researching this guide, we evaluated each projects standing, looked in its roadmap, checked its release record, and compared finished features to what the team promises to provide in the future.
A working product is active and accessible to the general public. Its mainnet has likely been released for a while, bumping the version numbers well over 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 who have launched their own mainnet, and can claim to have a working product by a loose definition. However, we've chosen not to include projects which arent actually being used by any significant step, which means that nearly all of the recently launched mainnets will not yet meet their criteria. .
In other words, the mere existence of a product does not great site necessarily mean that the product is working. After all, is a foundation really doing any work when there is no burden on top of it Likewise, a dapp stage 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 list, find their favourite project is missing, and then leave a comment, What about XYZ job!! We welcome this feedback, as its entirely possible that a few jobs have stronger user foundations than indicated in the prevalent documentation of them.
However, should you think that we made a mistake, we request that you provide sources backing up that claim so that we may assess its validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, which were originally on this listing, have been eliminated as they do not fulfill the standards outlined above.)
Bitcoin is the cryptocurrency that began it back in 2009, following the global financial crisis and subsequent bailouts of banks abandoned many individuals disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Now, Bitcoin is being employed for peer-to-peer payments throughout the world. More than that, though, it's 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 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.
Vitalik Buterins Ethereum whitepaper was released in late 2013. The project itself was announced January 2014, with 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 smart contracts stage.
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Current banking infrastructure has failed to grow in the 21st century, such that it takes 3-5 business days on average to get an international dig this transfer to be processed. With just 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 utterly unnecessary. Indeed, driving adoption of Ripples banking solutions is far easier than getting real-world adoption for XRP.
If youre interested in seeing a discussion about how XRP adoption will occur, you might find that this reddit thread worth a read. Meanwhile, all people will just have to wait and see if XRP adoption strategies ultimately come to fruition.