Cardano (ADA) Overtakes Ethereum (ETH) as Protocol with Most Development Activity in 2022

Cardano (ADA), like the rest of the cryptocurrency market, had a horrendous year in terms of prices. However, Cardano managed to become the protocol with the most development activity in 2022.

According to a report published on December 30 by Santiment, a social metrics platform, Cardano ranked as the top protocol in terms of development activity, followed by Polkadot (DOT) and Cosmos (ATOM) as the second and third most active in the development department.

Despite being the blockchain with the most developer activity, Cardano had an ok year in terms of return on investment (ROI), ranking sixth after such protocols as Internet Computer (ICP), Flow (FLOW), DOT, and others.

Interestingly, the second-largest smart contract blockchain Ethereum (ETH) ranked just fourth despite successfully upgrading to a proof-of-stake consensus mechanism last September. The top 10 of the most active blockchains also featured Optimism (OP) and Polygon (MATIC), two layer-2 Ethereum networks.

Santiment’s report also highlighted that Solana (SOL) still has a strong developer community and could’ve been included in the list. However, the authors of the report said that Solana’s developer activity had been deteriorating “heavily” throughout last year.

Cardano’s native token, ADA, is currently trading at around $0.25, according to data from CoinGecko. It’s down 92% from its all-time high of $3.09.

Cardano is one of the top blockchains in the world. The wider crypto community, and especially Cardano enthusiasts, might see it as encouraging that Cardano has not lost steam and is still actively developing the blockchain.

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Written by on 2023-01-04 07:40:19.

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