There is more daily development on Cardano, a smart contract platform, than on any other blockchain, including Ethereum and Bitcoin, Token Terminal data shows.
Cardano tops the development chart by GitHub
In a screen grab shared on April 30, Cardano emerged as a top platform based on daily cumulative code commits on GitHub, a code repository, with 106 submissions.
At this pace, developers were committing more code than those working on Polkadot and Kusama, which had 75 daily submissions each, or the Internet Computer protocol, with 65.
Ethereum, a smart contracting platform and Cardano’s stiffest competitor, came in at fifth with 57 submissions, while Bitcoin, the world’s most valuable cryptocurrency blockchain, didn’t even feature in the top 25.
Input Output Global (IOG) is tasked with the building of Cardano. It is led by Charles Hoskinson, who also served as one of the six original co-founders of the Ethereum blockchain.
According to Cardano, the platform’s development is “a methodical, research-based, and deliberate approach to innovation,” and in its five-stage roadmap, IOG will introduce “new functionality and novel features.”
All these features, Cardano said, will go towards making the platform more robust and suited for enterprise-grade operations.
Developers are critical for the success of any project. Investors can use the number of daily or monthly commits on GitHub to gauge activity.
The more there are developers working, regardless of prevailing market conditions, the higher the chances that the platform being built is high quality.
Parallel data from Santiment reveals that Cardano’s GitHub commits have been consistent over the past three years, an indicator of commitment that has translated to investor confidence, looking at the performance of ADA during that time frame.
Ethereum is king
While Cardano aims to eventually topple Ethereum as a go-to smart contracting platform, it, nonetheless, still lags behind the legacy blockchains in activities such as decentralized finance (DeFi) and non-fungible tokens (NFTs).
This is despite the relentless enhancement of the network as the platform encouragingly moves past key development milestones.
Currently, Cardano is at the Basho stage, where the objective is to make the network more performant, scalable, and interoperable with sidechains and other solutions focused on cross-chain capability.
The platform shifted from the Goguen phase, where multi-asset (MA) support and smart contracting capability were added, allowing for the launch of DeFi and other smart contracts-driven solutions.