Cardano at the top of crypto projects with the most development

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Cardano ontwikkelaar Emurgo investeert $200 miljoen in ecosysteem
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The platform ProofofGitHub recently looked at developer activity on various blockchain and crypto networks. They did this based on activity on GitHub, an online software development platform. The research showed that despite the blow that the collapse of FTX caused, crypto platforms are not sitting still. The most active platform based on GitHub activity was Cardano (ADA).

Cardano most diligent

As mentioned, the Cardano ecosystem leads the top 10. Closely followed by Cosmos, Ethereum and Polkadot. The top 10 is further completed by Internet Computer, Uniswap, Livepeer, Decentraland, Flow and Immutable X. Not very long ago, in August this yearEthereum, the second largest cryptocurrency, topped this list.

Cardano has therefore done good business in recent months in terms of development. The number of new wallets on Cardano also reflects this positive development. In November there were no fewer than 100 thousand new wallet addresses registers on the Cardano network. This is very impressive given the simultaneous FTX fiasco.

It should be noted that daily GitHub activity does not give a complete picture of how much is actually being developed on a network.

Algorithmic stablecoin Djed

It was also recently announced that an algorithmic stablecoin will be launched on the Cardano network. The stablecoin, called Jed, will most likely be rolled out in January. An algorithmic stablecoin immediately raises the necessary fears and criticism. After all, no algorithmic stablecoin has ever been successfully launched.

The TerraUSD (USDT) stablecoin from Terra (LUNA) seemed to come close, but that hope turned out to be unjustified. In June, the project fell apart, and the aftershocks of this are still being felt in the crypto industry. It was recently announced that last month’s FTX fiasco possibly related is to the demise of Luna. The future will show whether the criticism of Cardano’s planned algorithmic stablecoin is justified.

The developers in crypto land are not deterred by the current brutal bear market. That is cause for optimism. Cardano founder Charles Hoskinson shares this optimism. He recently indicated that the FTX drama would have serious consequences for the crypto sector, but that better times will certainly come.

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