Cardano Leads in Development Activity
A recent report has revealed that Cardano is dominating in terms of development activity compared to other networks. Despite not being as prominent in decentralized finance (DeFi) as Ethereum and Solana, Cardano continues to attract developers. The report, posted by Crypto Differ on X (formerly Twitter), shows that Cardano outperforms other networks by at least 150 in terms of Github commits made in a 30-day period.
Ethereum Fails to Make the Top 10
Surprisingly, Ethereum, which leads in DeFi activity, did not make it into the top 10 networks for development activity. Cardano surpasses Ethereum along with other networks like Avalanche, Hedera Hashgraph (HBAR), Polkadot (DOT), Cosmos (ATOM), Optimism (OP), and Avalanche Layer 2 network. Ethereum falls behind at the 11th position.
Cardano’s Outperformance Amid Declining DeFi Activity
Cardano’s impressive development activity comes at a time when DeFi activity on the blockchain is declining. According to data from DeFiLlama, volume on the Cardano blockchain has decreased by 35% in the last month. Additionally, Total Value Locked (TVL) has dropped from its December peak of $560 million to $411 million. The native token of Cardano, ADA, has also experienced a 17.5% decline in the past week.
Hot Take: Cardano Leads in Development Despite DeFi Decline
While Cardano may not be as dominant as Ethereum and Solana in the DeFi space, it continues to excel in terms of development activity. The recent report by Crypto Differ reveals that Cardano outperforms other networks by a significant margin in terms of Github commits. This highlights the continued interest and commitment of developers on the Cardano network. However, it is worth noting that Cardano’s development success comes at a time when DeFi activity on the blockchain is declining, with decreased volume and Total Value Locked (TVL). Nonetheless, Cardano’s strong development activity positions it as a promising network for future growth and innovation.
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