Let’s Look at the Top Crypto Assets with Developer Activity and Are Blockchain Ghost Towns
As many of our readers may already know, CoinCodeCap is a service that keeps an active track of the development activities of hundreds of cryptocurrencies in real-time.
In this regard, it may come as a bit of a surprise that premier altcoin ‘Bitcoin’ is currently the 52nd most active cryptocurrency in terms of development (despite it being number one in terms of daily trade volume). Not only that, Bitcoin also possesses the largest market cap in the industry today as well as offers a high degree of liquidity when compared to many of its fiat counterparts (across the globe).
According to the above mentioned website, the top 10 most actively developed crypto-coins currently include: Cardano (ADA), Augur (REP), 0x (ZRX), Ethereum (ETH), Lisk (LSK), Status (SNT), TRON (TRX), Komodo (KMD), Skycoin (SKY), Waves (WAVES).
More On The Matter
Data available on CoinCodeCap seems to suggest that Cardano currently has “more than twice the number of commits” than second placed Augur (with the number currently touted to be over 45,000). In addition to this, it should also be remembered that every commit does not necessarily indicate a change/alteration “of substance” to a project— since external metrics presented on Github cannot be taken to be true indicators of how much work a particular project has seen over a set period of time.
While Cardano(ADA) currently is on top of the dev rankings, the token is placed on the #11 spot in terms of total market capitalization.
Market Performance Does Not Equate To Strong Development Efforts
As things stand, it appears as though Tron (TRX) is currently 6 places below Cardano on the development activity list— even though it is a top-10 altcoin by total market capitalization. To be even more specific, TRX currently possesses a 24-hour trading volume of more than $65 million as well as a market cap that is 25% higher than Cardano’s.
With that being said, it is worth pointing out that development teams for projects such as Monero and ZCash have their work spread “across multiple repositories”. As a result of this, their true dev quotient cannot be tracked effectively by CoinCodeCap.
In rounding out this article, it can be useful for our readers to check out the top ten cryptocurrencies by market capitalization along with their CoinCodeCap rankings:
- Bitcoin (52)
- Ethereum (4)
- Ripple (113)
- Bitcoin Cash (143)
- EOS (15)
- Stellar (54)
- Litecoin (195)
- Tether (not ranked)
- Bitcoin SV (not ranked)
- Tron (7)
- Cardano (1)
It is worth noting that Tether has not been tracked since it is not an actively developed cryptocurrency (while Bitcoin SV currently has just two commits to its name).