The cryptocurrency market continues to recover based on 2023 momentum, with a significant increase in the value of various assets. Among the gains, the development teams of several cryptocurrencies take the lead in helping related assets gain viability.
Top 10 cryptocurrencies according to GitHub development event as of February 2023
On this line, as of Feb 2, 2023, Polkadot (DOT) and its pre-production network Kusama (KSM) lead the GitHub development event at 822, followed by Cardano (ADA) at 701, according to data from ProofofGitHub by Finbold.
Elsewhere, the second-ranked cryptocurrency by market cap, Ethereum (ETH), has the third-highest development activity at 634. At the same time, the metaverse game Decentraland (MANA) is fourth with 607, followed by Filecoin (FIL).
Other top ten cryptocurrencies include Status (SNT), Internet Computer (ICP), IOTA (MIOTA), Solana (SOL), and Cosmos (ATOM).
Top 10 cryptocurrencies according to the daily GitHub development event. Source: ProofofGitHub
Polkadot continues its development
As of the ranking, Polkadot continues its development activity with the so-called “blockchain of blockchains”, eclipsing other well-established names such as Cardano and Ethereum. In fact, data from crypto analytics platform Santiment showed that Polkadot spearheaded development activity in January 2023.
Top ten cryptocurrencies with development event in January 2023. Source: Santiment
Indeed, the development reflects the efforts of the Polkadot team after publishing a roadmap to improve the scalability of the platform. Part of the roadmap focuses on simultaneous support, or separation of the extension of parachains from the extension of the relay chain.
If the upgrade is carried out, the network speed is expected to increase by between 100,000 and 1 million transactions per second.
Cardano’s development activity progress
Elsewhere, Cardano also ranks high, completing the networks’ sustained on-chain activity recorded in recent years. As reported by Finbold, Cardano is the top blockchain protocol by development event in 2022, while Polkadot is second.
Cardano’s mainnet business also saw significant growth in 2022, led by features such as the smart contract feature, which has since crossed 4,000 milestones.
Indeed, the network is looking forward to a busy 2023 set for ranked projects to fall on the network. At the top of the list is the Djed stablecoin, which was launched to act as a bullish price trigger for the platform’s native token ADA.