The Cardano Network has reached a historic milestone. The activities of major developers surpassed Ethereum during the last year.
According to data from the Cryptometheus platform, Charles Hoskinson and Jeremy Wood recorded an Ecosystem Co in 2015, with 21,447. commit In the last 12 months.
You need to explain that before continuing commit They are records of changes made to the project’s code. Each of them represents changes, fixes, or improvements that developers keep in their repository, such as GitHub. They are ways to measure the activity and rhythm of the development of a project. This is because it reflects how often it will be updated or functioned in the source code.
The Cardano Network demonstrates high levels of technical activity. Over 550 major repositories and 37 projects are actively developed.
Of the 12 major projects, the most relevant developments are concentrated, but activities are not limited to them. Developer participation spans over 4,200 repositories linked across the network.
The greater participation of developers shows that more people are building on the network, which drives both adoption and the development of new use cases.
Additionally, the active technology community tends to improve the volume, quality, and interoperability of distributed applications (DAPPS) and distributed finance solutions (DEFIs) integrated into the ecosystem.
However, this metric surpassed Ethereum. It has not had a clear impact on the price of Cardano (ADA)the native currency of the ecosystem that has created some frustration within the community.
At the time of publication of this memo, the ADA price was $0.70, 77% below the largest historic (ATH) $3.10 reached September 2021.
While technology development is important, the price of ADA suggests that true adoption, active use of the network and there is still traction for its market. They do not accompany the rhythm of ecosystem growth. So the gap still persists between current prices and the ATH.
On the Reddit social network, members of the Cardano community placed importance on this milestone.
User Sime86 stated, “I’m tired of stories to overcome someone. Let’s focus on our own success!”
On his part, user fidgetyrat commented:
This comment refers to the door to historical debate within the Cardano community. What is the true use of the network?
As Cryptootics reports, you are questioning its location and competitiveness in the market.
To illustrate this point, it is worth mentioning that Ethereum continues to dominate with Dapps, which are recognized as Uniswap and Aave, but thanks to projects such as Raydium, Solana stands out for its speed and low fees.
That is, despite the activities and project development in that network, Cardano was unable to capture a significant portion of its capital debt.raises questions about recruitment for other networks.
According to Defillama data, this further emphasizes when considering Cardano’s total block value (TVL) of $346 million. It’s currently far below Solana’s $810 million and $520 million Ethereum.
TVL is a metric that can measure the amount of capital deposited on protocol debt and serves as an indicator of usage, relevance and trust levels within the cryptocurrency ecosystem.
In an exclusive dialogue with Cryptootics, Charles Hoskinson said, “Cardano will become one of the largest and most decentralized ecosystems in the world in five years.
The progressive and sustainable approach is reflected in recent improvements Cardano has implemented, including advances in scalability in scalability (TPS) using Layer 2 Hydra, which reached 1 million transactions per second (TPS) in testing.
Furthermore, optimization of Ouroboros protocol addresses one of the most repeated criticisms of processing power, as it seeks to improve network speeds without compromising decentralization.
However, on the same line as above, These are solutions that already exist in other networks.
Perhaps that’s why many members of the community emphasize the lack of actual use of Cardano and the need to see competition.
approach You need to design a specific use case to validate your proposal And as a result, it drives the ADA price to more than $3.
