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If you havent run into at least a handful of folks who are cynical about the condition 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 attempt to learn how many of these really had working products that are providing real worth. The same research done in 2017 might have afforded some truly discouraging results but, even now, the results arent exactly stellar.
Before we share the results with you, its important to define what exactly 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 strict with our standards.
When researching this guide, we evaluated each projects standing, looked at its roadmap, assessed its release history, and compared finished features to what the group promises to deliver in the foreseeable 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 jobs in the top 100 who have launched their mainnet, and can claim to have a working product by means of a loose definition. But, we've chosen not to include projects which arent really being used by any significant measure, which means that nearly all 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 doing any job when there is no weight 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 will read through this list, find that their favorite project is missing, and then leave 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 about them.
However, should you think that we made a mistake, then we request that you supply sources backing up that claim so we can assess its validity.
(Editors note: Upon further research and consideration, OmiseGO and Verge, which were originally on this listing, have been eliminated as they do not meet the standards outlined previously.)
Bitcoin is the cryptocurrency that began 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 employed for peer payments across the globe. More than this, however, it's leading the way towards a future in which financial technology is trustless, secure, resilient, and censorship resistant. Without Bitcoin, this record would not exist.
The platform that brought smart contracts into 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 was released in late 2013. The job 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 jobs have adopted Ethereum because their main smart contracts stage.
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Current banking infrastructure has failed to evolve in the 21st century, such that it takes 3-5 business days on average for an international transfer to be processed. With only 4 second transaction times and at a fraction of the cost of a wire transfer, Ripples working product is currently 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-world adoption for XRP.
In case youre interested in seeing a discussion about the way XRP adoption will occur, you may find this reddit thread worth a read. Meanwhile, all a fantastic read people will just have to wait and see whether XRP adoption strategies ultimately come to fruition.