- Despite the sharp corrections and declines in the crypto market, Cardano’s development activity remains at the top.
According to Santiment data shared by Coin98 Analytics, Cardano remains one of the most actively developed networks in the blockchain industry. According to the Number of Event Contributors, Cardano ranks third in the number of contributions.
Left (LEFT)continues to be the most actively developed project in the market and ranks first with 533 active participants. In second place is the second largest network in the industry. Ethereum (ETH) exists.
At the time of writing, Cardano has around 120 active diary contributors who are constantly working on the development of the network. Santiment’s metric also tracks activity and number of contributions on sites like GitHub, and the more users contribute to the project, the higher it ranks.
Another indicator from the same data providers shows that Cardano blockchain ranks second for development activity, while Solana still ranks first.
Cardano’s core background growth
With the launch of smart contract technology on the Cardano blockchain, more and more developers have started using the network and posting various use cases. Among them, one of the largest users of the platform to date has been the SundaeSwap decentralized exchange platform, which has at least 96 percent of the total value locked on-chain.
According to the DeFi LIama monitoring platform, more than $120 million in ADA is currently locked in various contracts created on the Cardano network. SundaeSwap has $119 million of that $121 million, followed by another decentralized exchange, MuesliSwap.
The latest update by Cardano was announced by IOHK last week. This innovation was implemented to increase the memory unit-per-block limit for Plutus scripts and increased scripts to 80 kb. Although this development can be considered as a big move for the development of the network, the market does not seem to accept it as a development that will allow the price to appreciate in the short term, as there is no movement in the price.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.