Cardano Tops Development Activity Once Again
Cardano has maintained its top spot in cryptocurrency development activity, surpassing Polkadot and Kusama, according to on-chain analytics firm Santiment. Avalanche followed in fourth place, ahead of other major digital assets. Optimism entered the top 10 cryptocurrencies by development activity.
What Development Activity Really Means
Santiment’s metric focuses on “events” within the past 30 days. Events include actions on GitHub repositories, such as pushing a commit, forking a repository, or creating an issue. This approach provides a more accurate representation of developers’ actual work, preventing issues like duplication or inaccuracies that may occur when measuring development activity solely by commits.
Cardano Rises in DeFi and Transactions
The total value locked on Cardano’s decentralized finance (DeFi) protocols has recently soared past the $400 million mark, a surge of over 150% so far this year. IOG’s weekly development report this month showed 152 projects launched and 1,307 currently building on top of the network. The platform has seen 79.7 million transactions, demonstrating the increasing adoption and utilization of the Cardano network.
Token Metrics and Smart Contract Development
9.1 million native tokens are circulating in the Cardano ecosystem, governed by 81,621 token policies. Additionally, the deployment of Plutus scripts—a set of tools for smart contract development—has reached 6,260 for version 1 and 4,981 for version 2, showcasing Cardano’s steady progress in smart contract deployment and execution.
Hot Take: Cardano Proves Itself as Premier Smart Contract Platform
Cardano has solidified its position as a top cryptocurrency, not only maintaining its spot in development activity but also demonstrating significant growth in its DeFi and transaction numbers, showcasing its steady progress and adoption since its launch.
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