Cardano (ADA) Is The Most Actively Developed Cryptocurrency Protocol In 2022

Key Points:

• Cardano is the most active blockchain technology in terms of development in 2022, followed by Polkadot (DOT) and Cosmos (ATOM).
• Despite ranking sixth in terms of return on investment (ROI) following the token sale, the Cardano team’s development activity rates were the highest among all examined protocols during the full year of 2022.

The majority of the cryptocurrency market is still battling to recoup its value following the FTX collapse, capping off one of the worst years in the sector’s history, but Cardano (ADA) is making progress in terms of development activity.

According to a list issued on December 30 by the on-chain and social metrics platform Santiment, Cardano is the top blockchain protocol by development activity in 2022, followed by Polkadot (DOT) and Cosmos (ATOM).

Ethereum (ETH), which underwent a big Merge upgrade this year, is now in fourth place, followed by Internet Computer (ICP), Elrond (EGLD), Flow (FLOW), Optimism (OP), Aptos (APT), and Polygon (MATIC), which is in tenth place. The Cardano team’s development activity rates were the highest among all observed protocols over the full year of 2022, despite ADA ranking sixth in terms of its return on investment (ROI) after the token sale.

Cardano’s newest findings support its past performance, as development activity rates in its public GitHub repositories were 18% higher in November than the next highest-ranked asset, recording 572.67 produced events. Furthermore, Cardano’s core network operations have seen tremendous growth in 2022, with its smart contract feature accounting for a 394% increase over 2021, reaching the milestone of 4,445 contracts as of December 16.

At the same time, native tokens on the platform climbed 192%, reaching 7.3 million, while Cardano transactions increased 139% to 56.9 million, with the number of wallets approaching 3.8 million – a 47% rise over the previous year.

Meanwhile, Cardano founder Charles Hoskinson announced that his team was working on Midnight, a new privacy-focused blockchain that promises to overcome the problem of smart contract confidentiality, as Finbold noted. Previously, Cardano engineers revived the Djed stablecoin’s testnet version, which offers additional capabilities including compatibility with the Vasil hard fork, which was deployed in late September and brought better smart contract capability.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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