Satoshi Faucet List for Dummies
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Should you havent run into at least a handful of folks that are cynical about the condition of this blockchain industry and think its largely 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 value. The same study done in 2017 may have afforded some truly discouraging results however, even now, the consequences arent exactly stellar.
Before we discuss 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 jobs are open-source, building a basic blockchain and launching it isnt a very high bar to set. We wanted to become somewhat more rigorous with our criteria.
When researching this article, we assessed each endeavors status, looked at its roadmap, checked its launch record, and compared completed features to what the team promises to deliver in the foreseeable future.
A working product is active and accessible to the public. Its mainnet has probably been published 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 a loose definition. But, we have chosen not to include projects which arent actually 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 doing any work when there's no burden on top of it Additionally, a dapp stage that has a mainnet but that doesnt have any noteworthy dapps official statement on top of it isnt considered working by this criteria. .
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No doubt many people will browse through this list, find that their favorite project is missing, and then make a comment, What about XYZ project!! We welcome this feedback, as its entirely possible that some jobs have stronger user bases than indicated in the prevalent documentation of them.
However, should you think that we made a mistake, then we ask that you provide sources backing up that promise so that we can assess its validity.
(Editors note: Upon further study and consideration, OmiseGO and Verge, which were originally on this list, have been removed as they do not fulfill the criteria outlined previously.)
Bitcoin is the cryptocurrency that started it all back in 2009, following the global financial crisis and subsequent bailouts of banks left many individuals disenfranchised with fiat currency and obsolete, insecure financial infrastructure.
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Today, Bitcoin is being used for peer-to-peer payments across the globe. More than that, though, it's 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 most 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 officially went live in July 2015.
Since then, hundreds of businesses, individuals, and blockchain jobs 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 still takes get more 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 cost of a wire transfer, Ripples working product is currently impacting the banking industry. .
The big knock against Ripple is that its native token, XRP, is completely unnecessary. Indeed, driving adoption of Ripples banking solutions is far simpler than getting real life adoption for XRP.
If youre interested in seeing a discussion about the way XRP adoption will happen, you might find this reddit thread worth a read. Meanwhile, all people will just have to wait and see whether XRP adoption strategies ultimately come to fruition.