Blockchain Interoperability Protocol Cosmos and Polkadot Ranked Near the Top in Developer Activity: Report
Theo Turner, a blockchain and AI developer at Outlier Ventures, a VC and private equity firm that advises, funds, and supports the advancement of technologies for an “open data economy,” currently published an analysis comprising major blockchain projects. The complete research methodology, data sources utilized, and the code applied for the study are available online through Outlier Ventures’ Github repositories.
The key findings from this study have been summarized below.
Most blockchain or DLT (distributed ledger technology) protocols “saw a moderate decline in developer activity (no more than 20%).” According to Outlier Ventures, the lower levels of development activity could have been due to COVID-19.
Nevertheless, blockchain interoperability protocol Cosmos (ATOM) saw a 15% rise in overall developer activity, and DLT-focused Polkadot also witnessed a 44% increase. However, these numbers will likely go down in the coming months because both projects had been operating on major releases.
Blockchain project Theta recorded an effective 931% in activity while Charles Hoskinson’s Cardano (ADA) observed a 580% increase, which is possible because the platform’s developers are getting closer to their mainnet launch. As anticipated, Outliers Ventures discovered that Ethereum (ETH) ruled the smart contracts space, as approximately 80% of them were published on the second-largest blockchain network (after Bitcoin).
The research team unveiled that over 80% of decentralized applications have been launched on Ethereum. It also has the most daily active users (which remain very low due to lack of practical use cases). EOS witnessed an 86% decline in developer activity in the past year. Bitcoin Cash (BCH) observed a 63% drop in development, and Tron endured a 51% decline.
It’s worth seeing that just because a project has registered lower levels of development activity does not inevitably indicate that it is “dead” or not moving forward. EOS currently awarded large amounts of development grants to various high-potential blockchain startups. While Block.one, the company behind EOS, one of the largest blockchain platforms, has been sued various times for selling unregistered securities, the firm is promoting products and services.
For example, it is planning to launch Voice, a blockchain-powered social media network next month. As the Outlier Ventures team noted, some projects may have been given more inclination to business development, instead of writing code. There’s a lot more involved in using and marketing software products than just building them.