With the fever of prices rising at the end of 2017, many people lost sight of an important detail of the cryptocurrency and ICO token projects, that these have a project or product working, something that as they could imagine is not the case in the vast majority of situations.
If we take for example the top 100 crypto projects listed on CoinMarketCap, only 40 of them, or it’s the same as saying 40%, have a product that really works right now.
The problem with this is that if we really want to see our money make a profit we need teams working on real products. Many founders and members have done an excellent job when it comes to trying to convince us of their idea and invest in it, when they do not want to have a minimum viable product or a functional prototype at least functional.
One of the most important things as investors and as lovers of this new industry is to find cryptocurrencies that really already have a product completely working, not just an idea on paper or a prototype to teach that it lacks functionalities. What we are looking for is something that is working 100% and that we can try with it. They do not have to be finished, since there is always more to do, but at least have an idea what their proposal is and from where they continue to develop with our money.
A project and product that already has this simple criterion is not indica what behind it is a team working very seriously, along with a very active community that gives us some confidence that it is a great long-term project. These are projects we want to bet on.
The purpose of this article is to help you identify these projects, which ones have products working and in which you can continue researching what you invest in them for. Remember that this is not an investment recommendation, and that if you want to bet on them it is best to do your own work and read everything by performing the corresponding analysis. Here what I am looking for is to present you with places to look.What do we consider a working work product?
The main and most interesting thing is that they have roadmaps that the teams have been following. Projects that have a history of new versions that they release on a regular basis, thus achieving objectives and that their project or service is really already working in the real world. At least by the early adopters of technology, who are the ones who are usually at the forefront. It is representative of what may happen in the future.
These are the criteria with which this list of cryptocurrencies has been created. From it, people who want to invest in this sector already have a part of the work done, it only remains that they get down to work and begin to study and analyze how much potential they have as an investment.
Many of the projects in this sector already have a main network working which is what we consider as a product. The problem is that they have very little adoption. Ideally, this should be a project with active members and at least have a decent user base at the moment.
If we talk about a smart contract platform, without an interesting amount of products running on it, then we can not consider it as a product currently working.
With all this said, it is best that we begin to see this extensive list. Interesting Cryptocurrency Projects#1 Bitcoin (BTC)
This cryptocurrency had to top the list for the simple fact of being the pioneer and the first application of a digital currency that has such a massive adoption. With Bitcoin we can make payments anywhere in the world with low commissions and in a very simple way. Peer-to-peer transactions have made transferring money to another country no easier.
Before, we need to wait between 3 to 5 days, it could even be more, to receive an international bank transfer. With the technology that makes Bitcoin, blockchain, and its decentralized nature possible, this cryptocurrency leads the pack of projects that currently have a product working.
Due to its popularity, if we compare it with the commissions of other digital currencies its cost is high, a few cents. To that we must add the time that is expected for the confirmation of your transactions, which is at least 10 minutes. It’s an ideal cryptocurrency to buy and hold, but if you’re looking to use it on a daily basis it can be somewhat challenging.#2 Ethereum (ETH)
For a long time, Ethereum ranked second within cryptocurrency projects according to capitalization. Currently it has fallen to third place as a result of Ripple surpassing it. That does not mean that it continues to have enormous potential, thanks to being a smart contract platform.
With this particular product we can make endless agreements and transactions without the need for a third party, and all automatically (smart contract use cases). In response to this technology, it is the leading platform worldwide.
Another interesting use of this platform is in the possibility of creating tokens. These allow people to create their own cryptocurrencies without the need to develop a blockchain from scratch, taking advantage of all the advantages that Ethereum offers.
It is relatively new if we compare it with the 10 years of Bitcoin, but it has been able to get a large mass adoption due to the ability to solve problems. Many companies are creating platforms thanks to it and launching their own ICOs.#3 Ripple (XRP)
Ripple is a financial transaction platform that has a network dedicated exclusively to international money remittances in a simple and cheap way. Their product solves the problem of the time it takes for an international transaction to complete, eliminating a lot of commissions that need to be paid for that service.
A bank when it wants to transfer funds anywhere in the world must rely on systems such as SWIFT, which is a network that allows this movement to be made. Unfortunately, it requires a lot of patience and in addition to incurring large costs.
Ripple can do the same in just 4 seconds, no matter the amount of money to be transferred, as it doesn’t matter if it’s $100 or $1,000,000. If you use the Ripple platform you really get to send all your money in a few seconds.
This project has the ability to revolutionize the financial sector as more customers join its platform and leave outdated banking systems behind.#4 Bitcoin Cash (BCH)
This was the first hard fork of Bitcoin, designed exclusively to solve the scalability problem that the main cryptocurrency suffered. When Bitcoin began to gain popularity, transactions became slower and slower, and along with it the commissions increased.
For many within the community this was really a problem, and they needed a solution that could continue to keep everyone happy. This is how Bitcoin Cash emerged, when a group of developers considered that increasing the block size could help a greater number of transactions to be processed at the same time.
It’s a pretty similar platform in itself, except for that small change. Many would think it is an improvement of Bitcoin itself, but the reality is that the issue is quite controversial, going so far as to divide the community due to this important detail.#5 Stellar (XLM)
Another payments-oriented platform is Stellar, a fork of Ripple that provides a solution for sending and receiving fiat currencies in all parts of the world. Its mission is to bridge the gap that exists between payment processors, banks and customers.
For that it uses its network that sends encrypted transactions, in a very secure way and without the need for a trusted third party. These are as simple as making a payment with your credit or debit card or a bank transfer, with the appropriate improvements, of course.
Thanks to these benefits, large companies have seen its enormous potential and have begun to partner with this project. Some of them are IBM, Keybase and KlickEx. It is not uncommon then to see that now the platform has more than 1 million active accounts, allowing Stellar to be one of the great promises of the sector (Stellar vs Ripple).#6 Litecoin (LTC)
Litecoin is another fork of Bitcoin but with the advantage of being faster and cheaper when transferring its cryptocurrency, the LTC. Its biggest advantage is that transactions on this blockchain only take 180 seconds, a big difference from Bitcoin’s 10 minutes.