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Should you havent run into at least a handful of people 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 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 results but, even now, the results arent just stellar.
Before we share those results with you, its important to define what exactly constitutes a working product in the first location.
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Considering that blockchain jobs are open-source, building a basic blockchain and launching it isnt a very large bar to set. We wanted to become a bit more strict with our standards.
When researching this guide, we evaluated each projects standing, looked in its roadmap, checked its release record, and compared completed features to what the group promises to provide in the future.
A working product is active and available to the public. Its mainnet has probably been published for a while, 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 jobs in the top 100 who have launched their mainnet, and can claim to have a working product by means of a loose definition. However, we have 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 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 that has a mainnet but that doesnt have any noteworthy dapps on top of it isnt considered working by this criteria. .
Satoshi Per Second - Questions
No doubt many people would read 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 a few jobs have stronger user bases than indicated in the prevalent documentation about them.
But should you think we made a mistake, we ask that you supply sources backing up that promise so we may assess its own validity.
(Editors Satoshi Per Second note: Upon further study and consideration, OmiseGO and Verge, which were originally on this list, have been removed 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 obsolete, insecure financial infrastructure.
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Today, Bitcoin is being used for peer payments throughout the globe. More than that, however, it is 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 attracted 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 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 projects have embraced 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 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 product is 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 Your Domain Name much simpler than getting real life adoption for XRP.
If 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 plans ultimately come to fruition.