Home
News
Chainlink displaced Cardano in becoming the leader of cryptocurrency projects in the metric.
Chainlink (LINK), the cryptocurrency and technology platform, is all set to become the king of cryptocurrency projects, surpassing Cardano (ADA). Cardano remained the number one developer platform due to its consistent solutions, updates, and developer commits. Chainlink emerged as a new leader in the town and registered around 451 daily developer submissions on GitHub in the last month.
Chainlink: The New Leader in Development Activity
On March 22, the analytics firm Santiment shared the latest ranking for different cryptocurrency projects based on the development activity criteria. The firm used the X platform to announce the same.
🧑💻 Here are #crypto's top coins by development frequency. This list is sorted by counting any non-redundant #github activity, and averaging this daily activity over the past 30 days. #Chainlink currently leads the way:
— Santiment (@santimentfeed) March 21, 2024
1 @chainlink $LINK
2 @cardano $ADA
3 @ethstatus $SNT
4… pic.twitter.com/s6i01Sc3qS
According to the post, Chainlink is the new cryptocurrency project king, surpassing giants like Cardano, Hedera, and Optimism.
Cardano has held the title of the number one blockchain for months due to its active developer community, consistent solutions, and regular updates. LINK showcased an outstanding performance and displaced the giants to secure first place.
Link won the race by a small margin and registered around 451 daily developer submissions on GitHub in the past month. ADA, on the other hand, trailed behind with over 445 daily developer submissions.
Furthermore, Kusama (KSM) and Polkadot (DOT), the top fighters on the list, appeared to have fallen off and dropped to seventh and sixth positions, respectively. The protocol has even surpassed the Ethereum blockchain in terms of development activities, shifting it to ninth place.
Santiment data suggest a genuine surge in the development practices on the Oracle platform.
Focusing on the development activities, LINK recently launched the Chainlink Cross-Chain Interoperability Protocol (CCIP) through smart contracts on different blockchains. However, the project is under development and has motives to enhance blockchain interoperability.
In addition, Morpho, Micro3, and Renzo are a few of the latest projects of LINK. Micro3 is a decentralized SocialFi Mint-to-Earn (M2E) platform, mainly developed to empower Web3 and utilized by LayerZero and Chainlink technologies.
Morpho is another latest project that delivers the overcollateralized lending and borrowing of ERC-20 tokens on the Ethereum Virtual Machine (EVM). It implements a smart contract to deliver a trustless base layer that individuals can use without requiring any third parties.
Although ADA has been replaced from its top position, blockchain remained a strong player in the list of developer engagements, ranging from 400 to 500 daily submissions.
LINK Current Performance
Chainlink is a decentralized blockchain oracle network that permits blockchain platforms to interact with external data with high-level security. The mainnet network was launched in 2019 by Sergey Nazarov and Steve Ellis. LINK is the native token of the blockchain.
At the time of publishing, LINK is trading at $18.40 after a decline of 0.14% in the past 24 hours. The coin has a market cap of 10,803,333,446 and $493,905,136 in 24-hour volume. The total supply of LINK coin is 1 billion, and the circulating supply is 587,099,970.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
