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If you havent run into at least a handful of folks who are cynical about the state of this 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 effort to learn how many of them actually had working products which are providing real worth. The same study done in 2017 may have yielded some truly discouraging results but, even now, the consequences arent exactly stellar.
Before we share the results with you, its important to define just what constitutes a working product 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 large bar to set. We wanted to be somewhat more rigorous with our criteria.
When researching this guide, we evaluated each projects status, looked in its roadmap, checked its release record, and compared completed attributes to what the group promises to deliver in the foreseeable future.
A working product is active and accessible to the public. Its mainnet has probably been released for some time, bumping the version numbers well over 1.0. Businesses and individuals use it on a daily basis for dapps, smart contracts, or electronic currency transactions.
There are many projects in the top 100 who have launched their mainnet, and can claim to have a working item with means of a loose definition. But, we've 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 our criteria. .
In other words, the mere existence of a product does not necessarily mean that the item is working. After all, is a foundation doing any work 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 would read through this listing, find that their favourite project is missing, and then make 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.
However, if you do think that we made a mistake, we request that you provide sources backing up that promise so we can assess its own validity.
(Editors note: Upon further research and investigate this site consideration, OmiseGO and Verge, that were originally on this list, have been removed as they do not meet the criteria outlined previously.)
Bitcoin is the cryptocurrency that began it back in 2009, after 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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Now, Bitcoin is being used for peer payments across the globe. More than this, though, it's 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 into 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 was released 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 projects have adopted Ethereum as their main smart contracts platform.
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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 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 utterly unnecessary. Indeed, driving adoption of Ripples banking solutions is far easier than getting real life adoption for XRP.
If youre interested in seeing a discussion about how XRP adoption will happen, you might find that 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.