While Ethereum is ahead of other blockchains in terms of the number of developers, other networks are catching up with the rapid increase in the pace of development activity. Electric Capital, a company that conducts research on the cryptocurrency market , recently published a report which shows that competitors such as Polkadot, Solana, NEAR Protocol, Binance Smart Chain, Avalanche and Terra are making dynamic progress.
- There are many more developers working on the second largest cryptocurrency project than on Bitcoin
- The networks, i.e. Polkadot, Solana, NEAR Protocol, Binance Smart Chain, Avalanche and Terra are developing faster than Ethereum in terms of the growth rate of development activity
- More similar and interesting articles can be found on the Comparic.pl home page
Ethereum in a dominant position
The network of the second largest cryptocurrency is still in the lead when it comes to the number of active developers working on it on a monthly basis. In this respect, it even surpasses Bitcoin.
According to data provided by Electric Capital, more than 3,320 active programmers are interested in Ethereum than in the blockchain of the oldest cryptocurrency.
Experts analyzed 500 thousand. code repositories and 160 million of its commits that are changes or updates. In their report, they emphasized that the number of programmers active during the month in all networks increased to over 18,400 people.
ETH's main competitors
Although Ethereum remains the undisputed leader, other blockchains are on its heels. It turns out that the networks such as Polkadot, Solana, NEAR Protocol, Binance Smart Chain, Avalanche and Terra are developing much faster than him in terms of the growth rate of development activity.
The list takes into account the average monthly activity of programmers from December 2020 to December 2021. Solana recorded a 4.9-fold increase. It was followed by the NEAR Protocol with a 4-fold growth rate. The next place belongs to the Polygon chain, which has grown more than twice in this respect.
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The closest rival to Ethereum is Polkadot, but the network belonging to the second largest cryptocurrency still enjoys 2.8 times more development activity
Ether with strong drops
Over the past 7 days, the ETH price has dropped from around 3.9 thousand. hole. to levels near 3.1 thousand. hole. The current price of this cryptocurrency is 3.2 thousand. hole. It has lost more than 34% of its value since its ATH recorded in November.
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