Cardano (ADA) has been ranked as the top crypto protocol by development activity in 2022

Most of the cryptocurrency industry is still struggling to recover its value from the consequences of the FTX crash, capping off one of the worst years in the sector’s history, but Cardano (ADA) is making headway in the development department.

In fact, Cardano is ranked as the top blockchain protocol by development activity in 2022, followed by Polkadot (DOT) and Cosmos (ATOM), according to the list published by the social and on-chain metrics platform. feelings on December 30th.

Development activity of the top 10 blockchains according to this indicator in 2022. Source: feelings

Ethereum (ETH), which went through a major merger upgrade this year, is ranked fourth, followed by Internet Computer (ICP), Elrond (EGLD), Flow (FLOW) Optimism (OP), Aptos (APT) and Polygon (MATIC) which take the top spot. Tenth place.

The Cardano team’s rate of development activity over the course of 2022 was the highest of all the observed protocols, despite ADA ranking sixth in terms of return on investment (ROI) since the token sale.

Continuous Improvement

For Cardano, the latest results are confirmation of its past success, given that development activity is increasing in the public domain github November inventory was 18% higher than the next highest rated asset, recording 572.67 events created.

In addition, Cardano’s main network activities witnessed significant growth in 2022, with the smart contract feature capturing 394% growth compared to 2021, reaching 4,445 contracts on December 16.

At the same time, native tokens on the platform increased by 192% and reached 7.3 million, transactions on Cardano increased by 139% to 56.9 million, and the number of wallets exceeded 3.8 million – an increase of 47% compared to the previous one. general .

Meanwhile, Cardano founder Charles Hoskinson revealed that his team has been working on a new privacy-focused Midnight blockchain, which aims to solve the secrecy problem of smart contracts, Coinphony reported.

Previously, Cardano developers reactivated the testnet version of the Djed stablecoin, which introduces new features, including compatibility with the Vasil hard fork, which was launched at the end of September and introduced improved smart contract functionality.

Cardano price analysis

Elsewhere, Cardano’s ADA token price is trading at $0.2421 at press time, down 1.39% on the day and 6.59% from the previous week, as shown in the charts.

Cardano price chart over 7 days. Source: quinphone

Currently, the cryptocurrency ranks ninth in terms of market capitalization, at $8.36 billion, according to data from the cryptocurrency tracking platform. CoinMarketCap on December 30th.

Warning: The content of this website should not be considered as investment advice. Speculative investments. When you invest, your capital is at risk.

Post Cardano (ADA) Ranked Top Crypto Protocol by Development Activity in 2022 appeared first on Coinphony.

Leave a Reply

Your email address will not be published. Required fields are marked *