By development activity, Polkadot ($DOT), a blockchain network frequently referred to as a “blockchain of blockchains,” has maintained its position as the top cryptocurrency network. It is followed by the smart contract platform Cardano ($ADA) and its pre-production network Kusama.
Polkadot’s development activity, together with that of its pre-production network Kusama, over the past 30 days, was superior to that of every other network in the cryptocurrency industry, according to statistics given by on-chain analytics company Sentiment.
It’s important to note that development activity is a statistic evaluating development activity in projects’ public GitHub repositories and excludes work done in private repositories.
Instead of focusing just on GitHub commits, Santiment tracks development events, as the company claims that this “effectively avoids” certain issues, such as projects forking another in order to “inherit” their commits and contributions.
Pushing a commit, creating an issue, submitting a pull request, forking the repository, and other actions are all considered “events” on the platform.
Because they would not be accountable for the work completed by the original team, a simple tally of all commits would not fairly depict the activities of a developer who formed a fork. A fork counts as one event according to Santiment’s “events” measure.
Prior to Internet Computer ($ICP), Decentraland ($MANA), Ethereum ($ETH), and Cosmos ($ATOM), Cardano ($CAD) was ranked third. The top 10 also included the cryptocurrencies Status ($SNT), Vega Protocol ($VEGA), and Filecoin ($FIL).
According to CryptoGlobe, with the collapse of the bitcoin market last year, Polkadot’s active user counts increased by 300%. Smart contracts cannot be supported on the relay chain, the main blockchain of Polkadot, but they can be supported on other blockchains connected to it.
As a result, Polkadot is anticipated to develop into a cryptocurrency ecosystem that rivals existing smart contract networks like Ethereum, the BNB Chain, and others. It was introduced in 2020 and offers a variety of technical elements that aid in achieving its objective.
DOT, the Polkadot network’s native cryptocurrency, serves as the network’s governance token. According to CryptoCompare, DOT owners can actively participate in Polkadot’s governance by staking their tokens to vote on network updates.
