The cryptocurrency industry can be classified in a number of ways. Market cap rankings remain the most popular method, although developer activity should also be considered. Cardano, Kusama and Polkadot took a strong lead ahead of the rest, which is quite interesting.
The activity of crypto developers will increase in 2021
It’s always good to see developers and programmers contribute to existing cryptocurrency and blockchain projects. However, in an ever-changing industry, keeping your code up to date and making adjustments or improvements is vital. While one would expect the currencies ranked by market capitalization to have a similar status in developer activity, this is nowhere near the case.
First off, Bitcoin is nowhere in the top 15 developer activity for all of 2021. This is somewhat of a surprise, although the project has been the longest of them all. Even so, Bitcoin can use many improvements and additions to maintain its dominant market leader in the future. There is a lot of upkeep for the world’s leading cryptocurrency, but less than for many other projects in 2021.
Instead, Cardano, Kusama and Polkadot are the leading projects by developer activity. That’s a pretty interesting top three, although it also makes a lot of sense. Cardano saw some big changes over the course of 2021, and Polkadot – and with it Kusama – started introducing Parachain slots. Nonetheless, all ecosystems have ticked significant milestones recently, and there is more to be done.
It is noteworthy how close these three projects are for development activities in 2021. There are few activities that separate all three, which confirms that these teams work hard quarter after quarter. In addition, they have a significant lead over Ethereum, Gnosis, and Solana. Very interesting statistics that confirm that individual projects contain more than their market capitalization suggests.
What about DeFi?
The year 2021 was very interesting for decentralized financing for several reasons. Hundreds of projects and protocols came out, and dozen disappeared just as quickly. It is a very competitive yet volatile area and users still have many problems and concerns. Some projects have achieved “legitimacy” status, others are still laying their foundations today.
Most developed cryptos on @Github in 2021
According to @Santimentfeed, @Cardano is the most developed project in the industry, followed by @Kusamanetwork and @Polkadot.
👉https: //t.co/gjKPmOazyB pic.twitter.com/JHXmWSe0YS
– CryptoRank platform (@CryptoRank_io) January 3, 2022
For Santimant, DeFiChain is the leading DeFi project for developer activity throughout 2021. It’s a prominent protocol that hasn’t made too much media headlines. However, users seem satisfied with the progress of the project, including the high throughput, incomplete Turing security, and ease of deployment of DeFi applications. Its network is anchored in the Bitcoin blockchain for additional security.
Other DeFi projects with strong developer activity are Mdex, Sifchain, UMA, Pancakeswap, Synthetix, MakerDAO and others. All of these names are well established in the field, suggesting that new protocols and services will face an uphill battle.
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