Cardano Named Most Powerful Blockchain in 2022 By Santiment
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On December 29, 2022, cryptocurrency analytics firm Santiment made a statement about the major blockchains’ 2022 development activity, highlighting Cardano (ADA) as the number 1 blockchain.
All through 2022, some highly harsh critics of Cardano have referred to it as a “ghost chain” and claimed that nobody uses it. The most well-known of these is Mike Alfred, a founding board member and first seed investor at Eaglebrook Advisors, according to CryptoGlobe.
Still seeing some lingering signs of irrational exuberance and excessive speculation in the market.
For example, a token that no one uses called Cardano is up 10% today. If it was trading on fundamentals, it would be down 98%.
— Mike Alfred (@mikealfred) January 17, 2022
However, Santiment said in a blog post on December 28 that Cardano was the most powerful blockchain according to its “Developer Activity” measure, silencing many critics.
Santiment defines and explains this statistic as follows:
“The development activity of a project is done in its public GitHub repositories. The work done in private repositories is hidden from the public and cannot be tracked. In crypto, a lot of the work is done in public repositories, so this metric is available for many projects.”
It further narrated:
“A developer’s time is a relatively expensive resource (especially in Crypto), so high development activity implies that: The project is serious about its business proposition; The project will likely ship new features in the future; It’s less likely that the project is just an exit scam. Simply put, Development Activity can be used to gauge a project’s commitment to creating a working product, and continuously polishing and upgrading its features.”
The Cardano Foundation Toots Its Horn
Last week, the Cardano Foundation gave a narration for why it believed 2022 had been an absolutely solid year for the cryptocurrency project, despite the unfortunate fate that befell the general crypto industry in 2022.
Boasting about the network, the Cardano Foundation listed the following as some of Cardano’s major accomplishments for 2022:
impressive on-chain growth (number of native tokens, wallets, Plutus scripts, transactions, and delegated wallets increased by 192%, 47%, 394%, 139%, and 27%, respectively); numerous new partnerships and collaborations (e.g., with NMKR, UZH Blockchain Center, and Veritree); the participation in 20+ events (such as Consensus 2022) worldwide; and the review of 50 Cardano Improvement Proposals (CIPs)
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