In the world of cryptocurrency, Ethereum is known for its strong ecosystem and active development community. According to a new report from analytics firm Santiment, Ethereum still holds the top spot in terms of development activity, even in the face of challenges from competitors such as BNB and Polygon.
Santiment shared in its X tweet the growth of development activity in different cryptocurrency ecosystems over the past year. The "development activity" metric they use reflects the work of project developers in the official GitHub repository. This metric is measured by calculating the "events" that developers have made to the project, rather than relying solely on the number of commits, which more accurately represents the actual workload of developers.
About the Development Activity metric
The development activity of a project can usually be measured by the number of commits made by developers in the project repository, but this method has its flaws. If a developer copies (forks) another project, the original commit record will also be counted, which may cause the number of commits to not truly reflect the amount of new development work.
To address this, analyst firm Santiment has adopted a new measurement method, measuring development activity through "events." In this context, an "event" is any modification a developer makes to a project, whether it is adding new code, modifying it, or removing it.
According to this method, the act of forking a project will only be counted as one event, and the events of the original project will not be counted. This statistical method can more truly reflect the actual workload of developers on the project.
The chart shared by Santiment shows the comprehensive development activity trends of the top 15 ecosystems in the current cryptocurrency industry. Through this "event-based" analysis method, we can more accurately understand the development dynamics and activity of each ecosystem.
The chart in the report shows that the development activity of the Ethereum ecosystem has remained at its highest level in a year, with a 0.8% increase compared to the same period last year. Although this increase is not large, it is enough to show the efforts and continued innovation of Ethereum project developers.
Performance of other ecosystems
Meanwhile, other ecosystems such as Optimism and Fantom have shown significant growth, with growth rates reaching 39% and 31% respectively. Despite the rapid growth of these ecosystems, they have not been able to shake Ethereum’s lead, as there remains a significant gap between Ethereum and closely followed BNB and Polygon.
The level of development activity is one of the important indicators for evaluating whether a cryptocurrency project has long-term potential. A high development activity value indicates that the development team continues to invest and innovate in the project, which is a positive signal for investors.
In summary, Ethereum continues to consolidate its leadership in the cryptocurrency field with its strong development community and continuous innovation. Despite the challenges of emerging competitors, the Ethereum ecosystem still shows strong vitality and potential.
