In the crypto world, there are many projects that compete with each other. For example, Ethereum (ETH) is the first Smart Contracts platform and still the largest. Nevertheless, more and more projects were added over time, such as Cardano (ADA) and Solana (SOL). Other projects like Polkadot (DOT) and Chainlink (LINK) are also trying to innovate through uniqueness use cases. Blockchain analytics firm Santiment recently conducted research into developer activity between competing platforms.
Cardano leads GitHub activities
High development activity can indicate an active and dedicated development team behind a cryptocurrency. Over the long term, this is more likely to add functionality and innovation to a network, which is an important metric. Activity is measured by actions taken on GitHub, an online platform that facilitates code development management and collaboration.
Ethereum outside the top 10
According to Santiment data, there is one project proudly leading the way and that is Cardano. It tops the list with over 500 daily submissions on GitHub over the past month. In doing so, the project overtakes previous frontrunners Polkadot and its sister network Kusama. Surprisingly, Ethereum is not in the top 10. In comparison, Cardano is 20 times smaller than the Ethereum network with a market cap of almost $9 billion. Notably, other major projects such as Binance Coin (BNB), Polygon (MATIC), and Solana also do not appear in the top 10.
Bitcoin can be used on Cardano
The development work on Cardano is paying off, because Bitcoin (BTC) has recently become available thanks to Wrapped Bitcoin technology usable on the network. Wrapped Bitcoin is a synthetic representation of BTC created by a smart contract. This process takes place in the chain, which makes it completely transparent. Among other things, this technology allows users to use Bitcoin in decentralized finance (DeFi) protocols. BTC has been anchored on the Ethereum network for some time.