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If you havent run into at least a handful of folks that are cynical about the condition of the blockchain industry and think its mostly scams and vaporware, well you probably havent been into crypto for quite long.
We researched the very best 100 cryptocurrencies (by market cap) in an attempt to learn how many of them really had working products that are providing real worth. The identical research done in 2017 may have afforded 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 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 high bar to set. We wanted to become a bit more strict with our standards.
When researching this article, we assessed each endeavors status, looked at its roadmap, assessed its release history, and compared finished attributes to what the group promises to provide in the foreseeable future.
A working product is active and available to the general public. Its mainnet has probably been released for some time, bumping the version numbers well over 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 who have launched their own mainnet, and can claim to have a working product by a loose definition. But, we've chosen not to include jobs which arent really 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 that the product is working. After all, is a foundation really doing any work when there's no burden on top click resources of it Additionally, 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 will browse through this list, find their favorite project is missing, and then make a comment, What about XYZ job!! We welcome this feedback, as its entirely possible that some projects have stronger user foundations than indicated in the prevalent documentation of them.
However, should you think we made a mistake, we ask that you supply sources backing up that promise so we may assess its validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, which were originally on this list, have been eliminated as they do not fulfill the standards outlined above.)
Bitcoin is the cryptocurrency that started it all back in 2009, following the worldwide 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 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 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 the majority of blockchain projects.
Vitalik Buterins Ethereum whitepaper premiered in late 2013. The job 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 because their main intelligent 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 an international transfer to be processed. With just 4 second transaction times and in a fraction of the expense of a cable transfer, Ripples working merchandise is already impacting the banking sector. .
The big knock against Ripple is content that its native token, XRP, is utterly 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 may find that this reddit thread worth a read. Meanwhile, all people will just have to wait and see whether XRP adoption strategies ultimately come to fruition.