Research: Only 36 of the Top 100 Cryptocurrencies Have a Valuable Working Product

If you’ve been travelling through the crypto world for more than a second and a half, you probably already know that aside from all the truly captivating developments, there’s also quite a lot of BS. Scams, controversies, distortions, lies – unfortunately, they are all there. With the purpose of shedding some light on the top cryptocurrencies, a new research was conducted to determine how many and which of the top cryptocurrencies actually have a real working product with real value behind them.

It is first important to explain how the co-authors of the study, John Bardinelli and Daniel Frumkin, have defined and ruled what is a “working product.” There appear to be three main criteria for that term:

  • Active and available to the public;
  • Its mainnet has likely been released for some time, 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.

Shockingly (or perhaps not so much), only 36 of the top 100 largest cryptocurrencies by market capitalization have made it to the list based on the criteria. Maybe there are some flaws in the research, sure (more on that below); but the fact that essentially only a little over a third of the top 100 cryptocurrencies were included in the research’s list is quite shameful, and can perhaps indicate that a lot of the criticism directed at cryptocurrencies is at the very least somewhat justifiable.

All right then, without further ado, here are the 36 cryptocurrencies from the top 100 list by market capitalization that do have an actual working product (organized by market cap):

  1. Bitcoin (BTC)
  2. Ethereum (ETH)
  3. Ripple (XRP)
  4. Bitcoin Cash (BCH)
  5. Stellar (XLM)
  6. Litecoin (LTC)
  7. Tether (USDT)
  8. Monero (XMR)
  9. NEO (NEO)
  10. Binance Coin (BNB)
  11. Zcash (ZEC)
  12. Qtum (QTUM)
  13. 0x Protocol (ZRX)
  14. Bytecoin (BCN)
  15. Decred (DCR)
  16. BitShares (BTS)
  17. Steem (STEEM)
  18. Siacoin (SIA)
  19. Augur (REP)
  20. Basic Attention Token (BAT)
  21. Nano (XRB)
  22. Golem (GNT)
  23. Pundi X (NPXS)
  24. Waves (WAVES)
  25. KuCoin Shares (KCS)
  26. Wanchain (WAN)
  27. Komodo (KMD)
  28. Ardor (ARDR)
  29. Huobi Token (HT)
  30. ZenCash (ZEN)
  31. PIVX (PIVX)
  32. Kyber Network (KNC)
  33. Bancor (BNT)
  34. Loom Network (LOOM)
  35. Polymath (POLY)
  36. Bibox Token (BIX)

Not surprisingly, some users (and probably crypto investors) expressed their anger in the research’s comment section, seething that their favorite cryptocurrencies aren’t on the list; the problem is that most of them also don’t provide a valid explanation (or an explanation at all) why their beloved cryptocurrency should be listed.

One debatable exclusion from the list is Dash, which hasn’t been precluded from the list because it doesn’t have a working product behind it, but because of its Evolution update that is set to be released at the end of the year. Bardinelli and Frumkin note that Dash was omitted since Evolution “redefines the project’s goals and feels like the real purpose of Dash.”

Other conspicuous cryptocurrencies that their absence is glaring are TRON (TRX), NEM (XEM), and – China’s favorite – EOS (EOS).