Cardano (ADA) Loses Top Spot in Network Development Activities
Cardano (ADA) has recently suffered a setback as it lost its leading position as the top network for development activities. Despite the ongoing updates and advancements celebrated by Cardano founder, Charles Hoskinson, the cryptocurrency has now been surpassed by other networks, dropping to fifth place.
The Shift in ADA’s Network Development Ranking
In a recent post on X (formerly Twitter), Santiment, a market intelligence platform, shared a list of the top cryptocurrencies with the highest development activities. Cardano, known for its research-driven initiatives and commitment to network progress, has consistently been a frontrunner in developmental projects within the blockchain space.
- However, Santiment’s revealed that Cardano has now slipped to fifth place among the top 10 cryptocurrencies with the most network development frequency.
- Hedera (HDAR) and Chainlink (LINK) currently hold the top positions, followed by Optimism (OP) and Internet Computer (ICP).
Santiment’s Criteria for Determining Network Developments
Santiment’s evaluation of crypto coins with significant network developments involved observing and tallying primary non-redundant activities within each project. The platform then averaged this daily activity over the previous 30 days to provide its updated rankings.
Updates on Cardano’s Ongoing Network Developments
Despite losing its top spot in development activities, Cardano continues to drive various key projects aimed at propelling its ecosystem forward and enhancing sustainability. Blockchain researcher Collin Brown has highlighted some ongoing developments within the Cardano ecosystem.
- ADA is currently undergoing core technical optimizations to boost efficiency and performance.
- The team behind Mithril protocol, which aids in Cardano adoption, has made improvements to network transaction certification and addressed transaction verification bugs to enhance scaling efficiency.
- Cardano is also focusing on enhancing network nodes and smart contract advancements, showcasing a list of “Partners and Real World Integration” with over 12 global tier-one companies.
Anticipated Chang Hard Fork Upgrade
One of the significant upcoming developments in Cardano is the Chang hard fork upgrade, set to debut soon. This upgrade is poised to introduce new governance to the Cardano ecosystem, enhancing overall functionality and performance.
Hot Take: Cardano’s Development Scene Shifts
Cardano’s recent drop in network development rankings underscores the competitive landscape within the cryptocurrency space. Despite this setback, ongoing initiatives and key upgrades signal a promising future for ADA as it continues to evolve and innovate in the blockchain ecosystem.
By
By
By