Despite the fact that most major cryptocurrencies’ prices have plummeted, Cardano ($ADA) has managed to maintain its $0.50 price level, outpacing other major cryptocurrencies in terms of development activity over the last 30 days.
Cardano’s development activity has outpaced that of other prominent cryptocurrencies such as Ethereum ($ETH) and Solana ($SOL), according to data from cryptocurrency analytics firm Santiment, which tracks “the number of GitHub events that the project organization generated.”
Following that were Flow and Filecoin, followed by Polkadot and Kusama’s canary network Kusama. In terms of development activities, IOTA and Decentraland are two other high-profile projects.
Other leading cryptocurrencies, such as Bitcoin and BNB, trail the top cryptoassets in terms of development activity, according to Santiment’s data stream, with BTC scoring 79 and BNB scoring 0.2.
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Commit And Contribution History
Santiment’s technique claims to track development events rather than just GitHub commits because it avoids certain issues such as projects forking others in order to “inherit” their commit and contribution history.
Cardano’s network is expected to see “huge performance improvements” as a result of the upcoming Vasil hard fork. Cardano’s development effort is currently at an all-time high. A major upgrade to the hard fork will include four Cardano Improvement Proposals (CIPs).
Despite the loss of the Terra ecosystem, which caused a general decline in the cryptocurrency market, ADA has already outperformed many other cryptocurrencies since the Vasil fork. As a result of its strong performance, ADA has surpassed $XRP to become the seventh-largest cryptoasset by market value.
The Cardano team stated that Vasil was delayed until late July as a result of Terra’s collapse, as the team chose to be extra cautious.
He stated that he “provided a directive to a lot of the engineers saying we should probably measure three times and cut once given the nature of things” before releasing the Vasil hard fork, which is why the Cardano development team waited.
He stated that the hard fork’s code is ready, implying that “you could probably flick the switch and get away with it,” but Cardano decided to “go above and beyond” what we typically do for hard forks by adding additional tests to Cardano’s smart contract platform, Plutus.