Cardano ($ADA) Was #1 Blockchain in 2022 ‘By Development Activity’, Says Santiment - ELEVENEWS
On Thursday (29 December 2022), crypto analytics startup Santiment, which provides tools that make “powerful OnChain, Social & Financial analysis accessible to anyone”, commented on the 2022 development...
On Thursday (29 December 2022), crypto analytics startup Santiment, which provides tools that make “powerful OnChain, Social & Financial analysis accessible to anyone”, commented on the 2022 development activity of the major blockchains.
Throughout, some extremely harsh critics of Cardano — the most infamous of which is Mike Alfred, who is Founding board member and first seed investor at Eaglebrook Advisors — have essentially called it a ghost chain, claiming that nobody uses it:
— Mike Alfred (@mikealfred) January 17, 2022Still seeing some lingering signs of irrational exuberance and excessive speculation in the market.
For example, a token that no one uses called Cardano is up 10% today. If it was trading on fundamentals, it would be down 98%.
Ethereum is too expensive, Solana is broken, Cardano doesn't even exist. It's a shit show out here in crypto. Thankfully all the talent and interest is flooding in to #Bitcoin now.
— Mike Alfred (@mikealfred) February 3, 2022
However, yesterday, Santiment said in a blog post that Cardano was the strongest blockchain by its “Developer Activity” metric
Here is how Santiment defines and explains this metric:
“The development activity of a project is done in its public GitHub repositories. The work done in private repositories is hidden from the public and cannot be tracked. In Crypto, a lot of the work is done in public repositories, so this metric is available for many projects.
“A developer’s time is a relatively expensive resource (especially in Crypto), so high development activity implies that: The project is serious about its business proposition; The project will likely ship new features in the future; It’s less likely that the project is just an exit scam. Simply put, Development Activity can be used to gauge a project’s commitment to creating a working product, and continuously polishing and upgrading its features.“
On 21 December 2022, Cardano Foundation explained why 2022 has been a fantastic year for smart contracts platform Cardano ($ADA).
Cardano Foundation is “an independent Swiss-based non-profit that oversees and supervises the advancement of Cardano.” It is the legal custodian of the Cardano brand and it collaborates with IOG and EMURGO to “ensure that Cardano is being developed and promoted as a secure, transparent, and accountable solution for positive global change.” Cardano Foundation “sets the direction for decentralized economic empowerment, working with regulators in different jurisdictions to shape blockchain legislation and commercial standards, and empowering the Cardano community to leverage the Cardano protocol to solve real-life problems.”
Here are some of Cardano’s main achievements in 2022 mentioned by Cardano Foundation:
- impressive on-chain growth (number of native tokens, wallets, Plutus scripts, transactions, and delegated wallets went up 192%, 47%, 394%, 139%, and 27% respectively);
- many new partnerships and collaborations (e.g. with NMKR, UZH Blockchain Center, and veritree);
- Cardano Summit 2022, which was held November 19-21, 2022 in Lausanne, Switzewrland;
- taking part in 20+ events (e.g. Consensus 2022) around the world; and
- 50 Cardano Improvement Proposals (CIPs) reviewed.
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