Thursday, May 30, 2024

Cardano Defies Critics With Strong GitHub Activity Among Major Layer 1 Blockchains

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Despite criticisms for the alleged abandonment, Cardano remains one of the top blockchain protocols in terms of GitHub activity.

According to the data compiled by IntoTheBlock, Cardano has once again surpassed Ethereum and other major Layer-1 blockchains such as Avalanche, Litecoin, and Tron in GitHub commits, reflecting its leading position in developer engagement.

Between March 11 and 17, Cardano registered 978,780 commits on GitHub, exceeding its closest competitor, Ethereum, which recorded 407,170 commits during the same period.

The blockchain intelligence platform’s data further revealed that Avalanche has a commit count of 315,770, while Litecoin and Tron stand at 84,110 and 79,380 commits, respectively.

This activity indicates potential for decentralized application (dApp) launches and protocol improvements, enhancing overall resilience and functionality.

Cardano is leading in developer activity amongst top L1s, consistently delivering the highest number of weekly commits. pic.twitter.com/gtYUIyeqRy

— IntoTheBlock (@intotheblock) March 18, 2024

Despite Cardano’s strong developer commitment, its price has remained below $1 since April 2022, currently at $0.59, with nearly 18% in weekly losses.

It is important to understand that developer engagement does not always directly influence price. The metric, however, helps gauge developers’ commitment to building, maintaining, and securing the ecosystem.

Cardano is no stranger to FUDs. In fact, the latest stats come on the heels of allegations its Layer 2 project, Hydra, was abandoned by the team.

Cardano co-founder Charles Hoskinson refuted the rumors and confirmed ongoing development, deeming them to be “pure FUD.”

According to DefiLlama, Cardano experienced an increase in the total value locked (TVL) in decentralized finance (DeFi) this year, climbing to $520 million on March 14th. The figure has since come down to $385 million as of March 20th.

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