Polkadot ($DOT), a blockchain network frequently referred to as a “blockchain of blockchains,” has just surpassed Cardano ($ADA) to become the most active cryptocurrency network in terms of development.
It’s essential to remember that development activity only accounts for changes made to publicly accessible GitHub repositories when evaluating a project’s success.
Santiment records development events rather than GitHub commit because, according to the company, their technique “successfully avoids” particular issues, such as projects “inheriting” others’ changes and contributions by forking them.
An “event” refers to platform operations such as pushing a commit, creating an issue, making a pull request, and forking the repository.
A simple tally of total commits would not fairly represent the involvement of a developer who developed a fork, since they would not be accountable for the original team’s work. For the “events” measure of Santiment, a fork counts as one event.
Although Cardano ranked third in terms of development activity, the cryptocurrency topped the list a year ago. By market capitalization, it still surpasses other cryptocurrencies like Ethereum ($ETH) and $BNB.
As stated by CryptoGlobe, Polkadot’s number of active users increased by 300 percent during 2022’s bear market for cryptocurrencies. The relay chain, the primary blockchain of Polkadot, does not enable smart contracts, but other blockchains linked to it do.
It follows that Polkadot will likely develop into a cryptocurrency ecosystem that challenges existing smart contract networks like Ethereum, BNB Chain, and others. It was introduced in 2020 and is equipped with a variety of technical characteristics that assist it to achieve its objective.
Notably, ADA and DOT have had comparable performances over the previous 30 days, with ADA increasing by 43.2% and DOT increasing by 41%, according to statistics from CryptoCompare.
Also Read: Goldman Sachs Calls Bitcoin The Strongest Asset
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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