Cardano beats Ethereum as most developed crypto project.

Be the First to Comment Read

Cardano beats Ethereum as most developed crypto project.

Follow us on Google News:
 Cardano beats Ethereum as most developed crypto project.
Image source: © Shahurin | Megapixl.com

Highlights 

  • The most developed blockchain on Github in 2021, according to data compiled by CryptoRank and Santiment, was Cardano
  • Cardano, which had over 140,000 events, beat out Kusuma in second place and Polkadot in third place
  • Cardano’s founder, Charles Hoskinson said there are 127 projects currently under development on the Cardano blockchain

Undoubtedly, 2021 was the year that saw a number of blockchain projects explode. Beyond the already established cryptos like Bitcoin and Ethereum, crypto blockchains like Solana and Polkadot broke out last year with an influx of users hopping onto the more scalable platforms.

However, the most developed blockchain on Github in 2021, according to data compiled by CryptoRank and Santiment, was Cardano.

Cardano, which had over 140,000 events, beat out Kusuma in second place and Polkadot in third place.

Perhaps more notably, Cardano beat out popular blockchain, Ethereum, by quite a large margin, with the second largest crypto by market cap coming in fourth place.

 GitHub crypto projects, Cardano blockchain projects, Cardano vs Ethereum, blockchain projects, Cardano Price 2022

Image Source: © Awargula | Megapixl.com

What Does This News Mean For Cardano’s Price?

The news of Cardano’s stimulated activity and development in the past year has been welcomed by investors who predict a breakout in Cardano’s price. This is because it reveals the development team’s commitment to building a fully functional product.

In a live YouTube Q&A last week, Cardano’s founder, Charles Hoskinson said there are 127 projects currently under development on the Cardano blockchain.

Additionally, Hoskinson said he believes Cardano’s user base will increase tenfold from its current usership of two million thanks to the growing popularity of non fungible tokens (NFTs).

Notable New Cardano Developments

Amongst Cardano’s many developments is the layer two Hydra upgrade. This upgrade directs transactions off-chain to staking pools without blocking the ledger itself.

The second development worth mentioning is the initial stake pool offering (ISPO) – a novel fintech funding mechanism. Here, blockchain users delegate their crypto in a protocol and, in turn, receive tokens of a new crypto project being developed on the blockchain as rewards.

Cardano’s Price History

Cardano is currently US$1.31, a long way from its high of US$2.96 in September, 2021. In the last three months, Cardano’s Price has been on a downward trajectory, going from around US$2.27 to US$1.31.

In the past month, Cardano’s Price has moved more or less sideways. Within that space, however, the price has fluctuated to as high as US$1.58 and as low as US$1.20.

Cardano crypto beats Ethereum as most developed crypto project

The Bottom Line

The next year seems to be very interesting for Cardano as it tries to supersede its main competitor, Ethereum.

With the level of development currently seen on the Cardano blockchain, the “Ethereum Killer” looks on track to do just that.

Disclaimer

Featured Articles