The development rate of blockchain projects has decreased by 20% over the past year. The specialists of the venture company Outlier Ventures made this conclusion, having analyzed the number of changes in blockchain startup protocols.
The analysts also drew attention to several details. For example,Theta and Cardano recorded the largest core updates in the year 2020. While Theta saw an increase of 931% since July 2019, Cardano presented 580% increase in core update.
However, while Theta saw the largest growth in core update, Cardano remains at the top of the chart.
Contrarily, TRON, MakerDAO, EOS saw the largest decline in core update.
Polkadot project development activity grew by 44%. Experts associate the positive changes with the launch of the main startup network.
The maximum number of changes per week was recorded in the Cardano, Polkadot, and Theta projects.
Thanks to the inflow of coders into Theta project by 931%, its cryptocurrency has grown to the highs of the year, increasing the value of the token 5 times.
Cardano blockchain ranked second in the developer activity rating. The network is gearing up for full decentralization this year. The native token of the cryptocurrency, ADA, demonstrated more modest growth this year with over 100% surge . This data is twice as high as the total growth indicators of altcoins + 50%.
In total, experts studied the performance of 12 startups. The maximum decrease in programmer activity was recorded in EOS project. According to the research, the number of changes made to the project decreased by 86%. Bitcoin Cash settled for the second position (-63%), the third – Tron (-51%).
The activity of discussions and proposals decreased by 98% in the ranking of the top 30 cryptocurrencies since last spring.
Below is a diagram that contains data on changes in the activity of programmers in various projects.
The authors of the research suggest that the disastrous situation with the outcome of the encoders was affected by Covid-19. The teams were forced to make staff reductions due to funding problems, third-party developers offering innovations based on grants switched to startups with a high probability of such payments.
The general diagram of arrangements for crypto projects, in this case, is as follows:
- Ethereum is in the first place in terms of the number of users of decentralized applications (dapps) and smart contracts.
- Changes in the activity of developers of several projects may be associated with a loss of interest in startups, amid a lack of updates.
- Among Bitcoin and its fork projects (Bitcoin Cash, and Bitcoin SV), Bitcoin SV developers are the least active.
Previously, researchers at The Block media source drew attention to a change in the position of stablecoins against the background of Covid-19. It turned out that the volume of stablecoins grew by 94% during the pandemic.
Gnosis startup experts, in turn, decided to focus on the possibilities of profit from the current situation. They offered their users the opportunity to capitalize on the Covid-19 pandemic.