finbold.com
The cryptocurrency market continues to rally, building on its 2023 momentum, with various assets recording a significant surge in value. Amid the gains, development teams of several cryptocurrencies are taking the lead in helping the respective assets attain viability.
In this line, as of February 2, 2023, Polkadot (DOT) and its pre-production network Kusama (KSM) leads the GitHub development activity at 822, followed by Cardano (ADA) at 701, according to data retrieved by Finbold from ProofofGitHub.
Elsewhere, the second-ranked crypto by market cap, Ethereum (ETH), has the third-highest development activity at 634. At the same time, the metaverse game Decentraland (MANA) is fourth at 607, with Filecoin (FIL) lying in the fifth spot at 594.
Other cryptocurrencies making up the top ten spot include Status (SNT), Internet Computer (ICP), IOTA (MIOTA), Solana (SOL), and Cosmos (ATOM).
Polkadot sustains development activity
From the ranking, Polkadot continues to sustain its development activity with the network dubbed the “blockchain of blockchains,” dwarfing other established names such as Cardano and Ethereum. In fact, data from the crypto analysis platform Santiment indicated that Polkadot led development activity in January 2023.
Indeed, the development mirrors efforts by the Polkadot team after releasing a roadmap on enhancing the platform’s scalability. Part of the roadmap focuses on synchronous backing or the de-coupling of the extension of parachains from the extension of the relay chain.
If the upgrade is realized, the network speed is projected to surge by between 100,000 and 1 million transactions per second.
Cardano’s development activity progress
Elsewhere, Cardano also ranks high, complementing the networks’ sustained on-chain activities recorded in recent years. As reported by Finbold, Cardano ranked as the top blockchain protocol by development activity in 2022, with Polkadot ranking second.
Notably, Cardano’s main network activities also recorded significant growth in 2022, led by aspects such as the smart contract feature that has since surpassed the 4,000 milestone.
Indeed, the network is looking forward to a busy 2023 with lined-up projects set to drop on the network. On top of the list is the Djed stablecoin that has been touted to act as a bullish price trigger for the platform’s native token ADA.