A newly released survey by venture capital firm Outlier Ventures tracked the activity of developers from the top 50 blockchain networks in terms of market capitalization, revealing that rivals Ethereum (ETH), Cardano (ADA) and Avalanhce (AVAX), saw explosive growth in the number of developers dedicated to their protocols from June 2019 to May 2021.
Although there is no direct relationship between this increase in activity and the price of tokens, both ADA and AVAX have appreciated significantly since the beginning of this year: 1,331% and 1897%, respectively, according to data from CoinMarketCap.
To track the activity of developers and their dedication to the protocols, the study is based on data pulled from GitHub, a platform that allows programmers around the world to contribute to the development of open source projects.
The study methodology is based on the commits GitHub, which serve as a barometer of community and developer activity, as each entry refers to changes or additions made to the source code of the respective project.
According to the study, the Cardano blockchain has been showing a high volume of commits per month (CPM).
“Cardano ranks first in terms of average commits per month (CPM) with a total of 701 CPM, growing 24.0% over the previous 12-month period.”
Between 2019 and 2020, Cardano averaged 566 CPM, and from 2020 to 2021, 702 CPM. In both periods, Charles Hoskinson’s project was ahead of Ethereum, the second ranked, with 405 and 447, respectively.
Developer monthly activity ranking. Source: Outlier Ventures
The study highlights that the average monthly CPM of all the top 50 protocols is 117, which means that Cardano developers were 555% more active than the overall average.
The Avalanche network, for its part, stood out for the growth of developer activity in the last 12 months, according to the study.
“Avalanche demonstrated an explosive growth of 709.7% in total commits during the last 12 months compared to the prior period, going from 1,553 commits per year (CPY) to 12,575 CPY.”
Among the reasons given by the study to justify the recent growth in activity on the Avalanche network are el launch of the Avalanche-Ethereum Bridge (AEB) and Pangolin, the largest DEX (decentralized exchange) of the protocol.
Looking at the number of active developers on a monthly basis, the study reveals that Ethereum is in the lead, averaging 168 a month in the last 12 months. However, Cardano is close behind, with an average of 165 active developers monthly.
As a result of the developers’ work, Cardano has just released the Alonzo update to allow protocol users to create smart contracts, which could drive the price of ADA even higher in the long run.
The growth of Cardano and Avalanche is part of a movement of smart contract platforms coming to challenge the hegemony of Ethereum, as Cointelegraph recently reported.