Cardano (ADA), like the rest of the crypto market, has had a horrid year in terms of prices. However, ADA still managed to clinch the title of the most developed chain, outpacing top rivals such as Ethereum and Polkadot. But will this ever translate into ADA rocketing to all-time highs?
Cardano Tops List Of Most Developed Cryptocurrencies
The development community behind Cardano continues to make strides in expanding the utility of the ADA token.
Data from ProofofGitHub, a GitHub development activity tracker, shows that ADA has 824 daily development activities and ranked first in a sample of the top 10 coins. Internet Computer (ICP) ranked second on the list with an imprint of 618 in daily activities.
Cardano beat Ethereum’s development activity by a wide margin, with the latter coming in fifth place with 562 updates to its repository.
Filecoin, Status, Cosmos, Optimism, and IOTA also made the list of the top 10 blockchains. The OG crypto, BTC, was nowhere to be seen on the list.
Although Cardano — which calls itself a third-generation public chain — is arguably the most criticized among the top cryptocurrencies, its developmental growth over the years has been particularly top-notch.
ADA Moonshot Guaranteed?
Although development activity is not necessarily a useful indicator of price, it adds legitimacy to projects involved in a market that scams have plagued.
The fact that the Cardano development community continues working despite the lingering macroeconomic challenges and crypto scandals is a sign of strength. Moreover, it decreases the downside risks of holding ADA long-term if they can maintain their pace of development.
Cardano’s ‘Valentine’ upgrade, which makes enhancements to cross-chain functionality for decentralized finance (DeFi) applications building on the network, was pushed live on the mainnet on February 14.
Now it’s a matter of how ADA will behave as it soon transitions to the fifth and last era, Voltaire. This stage will add a voting and treasury system for self-sustaining governance. As Cardano creator Charles Hoskinson astutely stated, “the Age of Voltaire will soon be upon us as an ecosystem. It’s going to unlock the power of the millions of Cardano users and builders. It will also, once again, show the rest of the industry how to do decentralized governance just like we did with Staking.”