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If you havent run into at least a handful of folks that 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 attempt to learn how many of these actually had working products which are providing real worth. The identical study done in 2017 may have yielded some truly discouraging results however, even now, the consequences arent just stellar.
Before we share the results with you, its important to define what exactly constitutes a working product in the first place.
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Considering that blockchain jobs are open-source, building a basic 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 guide, we assessed each endeavors status, looked in its roadmap, assessed its release history, and compared finished features to what the team promises to deliver in the future.
A working product is active and accessible to the general public. Its mainnet has likely been published for some time, bumping the version numbers well above 1.0. Businesses and individuals use it on daily basis for dapps, smart contracts, or digital currency transactions.
There are many jobs in the top 100 that have launched their own mainnet, and can claim to have a working item by a loose definition. However, we have chosen not to include projects which arent really being used by any significant step, 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 is no weight on top of it Additionally, a dapp platform which 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 job is missing, and then make a comment, What about XYZ job!! We welcome this feedback, as its entirely possible that a few jobs have best site stronger user bases than indicated in the prevalent documentation of them.
But if you do think that we made a mistake, then we ask 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 list, have been removed as they do not fulfill the standards outlined above.)
Bitcoin is the cryptocurrency that began it back in 2009, following the worldwide financial crisis and subsequent bailouts of banks left many individuals disenfranchised with fiat currency and outdated, insecure financial infrastructure.
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Now, Bitcoin is being used for peer-to-peer payments throughout the world. More than this, however, it is leading the way towards a future in which financial technology is trustless, secure, resilient, and censorship resistant. Without Bitcoin, this list would not exist.
The platform that attracted 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.
Following Ethereum, teams noticed the value of decentralized apps (dapps) and smart contracts, and shifted their attention to compensate.
Vitalik Buterins Ethereum whitepaper premiered 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 jobs have embraced Ethereum my website as their main intelligent contracts stage.
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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 at a fraction of the expense 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 utterly 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 happen, you may find this reddit thread worth a read. Meanwhile, all of us will just have to wait and see if XRP adoption strategies ultimately come to fruition.