Metrics

Ethereum Has the Most Monthly Active Developers, But Don’t Discount Polkadot and Cosmos

Determining the growth of any blockchain ecosystem requires looking at different metrics. One intriguing chart shared by Electric Capital depicts the increase in monthly active developers. Ethereum is still in the lead, but competitors are emerging. 

Monthly Active Developers Are Crucial

Everyone in the cryptocurrency space knows that Ethereum is the leading developer-oriented ecosystem on the market today. Holding on to that position becomes increasingly difficult. Several “Ethereum Killers” are currently trying to take the top spot. It remains unclear if any of them will ever be able to achieve that goal. 

One metric to help determine growth is the number of monthly active developers. Ethereum is clearly in the lead in this regard as well. That said, the ecosystem has been around much longer than some of its strongest competitors. Polkadot, for example, notes a steeper early growth curve for monthly active developers. That may prove to be a telltale sign of what is yet to come in the future.

A similar growth spurt affects the Cosmos blockchain ecosystem. It is a bit slower to get out of the gates, but the project has already outpaced most of its competitors in quick succession.  That is an exciting development to keep an eye on. As more developers start to focus on these top layer-one platforms, innovation is never far away. 

For the other competitors, things are not looking too great. Tezos and Cardano still have more monthly active developers compared to Bitcoin. Monero and Stellar note a small dropoff but are still worth keeping tabs on. EOS seems to lose a bit of traction lately but can always bounce back over the coming months. 

Looking At Some New Entrants

What makes the blockchain and cryptocurrency ecosystem existing is how there are always new projects. In recent months, the likes of Near Protocol, Solana, Celo, Diem, and Nervos started making some headlines. They will need a strong representation of monthly active developers to achieve the “Ethereum competitor” level. 

As all of these platforms compete for layer-one supremacy, that may not be the industry’s most significant factor today. Several projects are focusing on layer-two scaling solutions. Every layer-two solution will bolster the underpinning layer-one ecosystem.  How that will affect those blockchains’ overall growth is difficult to determine at this time. 

Furthermore, Ethereum will likely see an uptick in monthly active developers. As the development of Ethereum 2.0 progresses, there will be plenty of work to do. Enthusiasts and supporters hope to see this Phased rollout complete sooner rather than later. Making that dream come true will require contributions from Ethereum’s many developers. 


Looking to advertise? We will gladly help spread the word about your project, company, or service. CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio. Contact us if you have any questions: contact@cryptomode.com

JP Buntinx

JP Buntinx has been writing about cryptocurrency since 2012. His interest in crypto, blockchain, fintech, and finance allows him to cover a broad range of different topics.

Share
Published by
JP Buntinx

Recent Posts

The Number of Bitcoin Addresses Holding Over 0.01 BTC Hits A New All-Time High

While no one really enjoys seeing the bitcoin price fall, it does create an excellent…

10 hours ago

The ‘ETH In Mellieha’ NFT Changes The Concept of Using NFTs to Claim Asset Ownership

There are many types of non-fungible tokens to explore. Some favor the collections, whereas others…

13 hours ago

Crypto Community HeritageDAO Seeks to Acquire Korean National Treasures

Singapore, Singapore, 26th January, 2022, ChainwireThe sudden birth of HeritageDAO,$HDAO, was the response of the…

14 hours ago

Challenge Your Poker Skills with CryptoGames’ Video Poker!

When you think of Gambling, often a room full of serious gamblers sitting at a…

15 hours ago

Capitrade Launchpad Aims to Be the Pioneer of Luna Based Decentralized Fundraising Platform

Capitrade Launchpad operation level and mechanism ensures every tier level gets allocated. Capitrade Ventures has…

15 hours ago

MyCointainer Raises $6 Million in Seed Round to Develop Its Yield Earning Platform

Tallinn, Estonia, 26th January, 2022, ChainwireMyCointainer, a platform for easy yield staking, announced it has…

22 hours ago