Developers are gradually moving away from what were once called “Ethereum killers” to an ever-increasing number of new decentralized protocols.
Outlier Ventures, a venture capital firm, said in February that Ethereum has remained the most actively developed blockchain protocol over the past twelve months; followed by Cardano and Bitcoin. By the criterion of commits on Github, developer activity is 14% higher than that of Cardano, and almost double that of Bitcoin.
The report notes that new platforms such as Polkadot, Cosmos and Avalanche are also attracting new developers, but Ethereum’s older competitors are seeing the opposite picture.
“Ethereum’s killers – Tron, EOS, Komodo and Qtum – are seeing declines in key development metrics,” the report says.
DeFi projects on the air quickly gained popularity in 2020 and recorded a significant increase in developer activity. During the peak of the DeFi boom, the leading platforms in terms of development were Maker, Synthetix, Band Protocol, and Augur, according to Santiment research.
DeFi was not the only growing sector on Ethereum – activity in a number of NFT projects (non-fungible tokens) also generated significant growth in developer interest. Decentraland’s development activity competed with blockchain projects like Stellar and Algorand, and was higher than popular DeFi protocols like Uniswap and Compound.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
