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If you havent run into no less than a handful of folks 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 quite long.
We researched the top 100 cryptocurrencies (by market cap) in an effort to learn how many of these actually had working products that are providing real value. The identical research done in 2017 might have yielded some truly discouraging benefits however, even now, the results arent just stellar.
Before we discuss 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 projects are open-source, building a fundamental 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 projects status, looked at its roadmap, assessed its launch record, and compared completed attributes to what the team promises to deliver in the foreseeable future.
A working product is active and accessible to the public. Its mainnet has probably been published for some time, 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 who have launched their own mainnet, and can claim to have a working item by a loose definition. However, we have chosen not to include jobs which arent really being used by any significant step, which means that most of the recently launched mainnets will not yet meet their standards. .
In other words, the mere existence of a product does not 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 platform which 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 list, find their favorite project is missing, and then leave a comment, What about XYZ job!! We welcome this feedback, as its entirely possible that some jobs have stronger user foundations than indicated in the prevalent documentation of them.
But should you think that we made a mistake, then we request that you supply sources backing up that promise 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 started it back in 2009, after 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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Today, Bitcoin is being employed for peer-to-peer payments across the globe. 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 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 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 jobs have embraced Ethereum as their main smart contracts platform.
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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 expense of a cable transfer, Ripples working product is pop over to this site 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 far easier than getting real-world adoption for XRP.
If youre interested in seeing a discussion about how XRP adoption will occur, you may find this reddit thread important source worth a read. Meanwhile, all people will just have to wait and see if XRP adoption plans ultimately come to fruition.