In the cryptocurrency ecosystem, one of the important ways to determine the strength and sustainability of a project is through development activities. These activities show how much the community behind a project, the active contributing developers, are working. According to the most up-to-date data published by Santiment, Chainlink (LINK), Ethereum (ETH) and Status (SNT) stand out among the ERC-20 altcoin projects with the highest development activity. Here are these projects and their features listed by Santiment…
These altcoin projects drew attention in development activity
According to Santiment’s data, the altcoin Chainlink (LINK) is at the top of the list in terms of development activity. Ethereum (ETH) comes in second, while Status (SNT) is in third. The list is followed by sUSD (SUSD), Synthetix (SNX), respectively. Then come Decentraland (MANA), Lido Finance (LDO), Fantom (FTM), Audius (AUDIO) and Injective (INJ). In this ranking provided by Santiment, the changes in the positions of the projects compared to the previous month are also indicated. For example, projects such as Fantom (FTM) and Audius (AUDIO) are on the rise, while Synthetix (SNX) is on the decline.
Why development activity is important
One of the important factors to consider when evaluating the value of crypto projects is development activity. According to Santiment’s Medium post, how active an altcoin project is on GitHub, the size of the developer community and their contributions to the project give an idea about the long-term success of that project. High development activity is critical, because it increases the project’s ability to both stay up-to-date and meet user needs. This shows that the project is not just an idea. Because it allows it to become a product that develops and appeals to its user base.
The fact that platforms such as Santiment measure development activity offers investors the opportunity to evaluate projects from a technical perspective. However, the increase or decrease in development activity of altcoins provides important information about the development process of the project. For example, if there is a continuous increase in development activity for an altcoin, this usually means that the project is working on new features or improving its existing products. Similarly, decreasing development activity indicates stagnation in the project. It also indicates negative situations such as decreasing developer interest.
How is development activity calculated?
In the market, development activity is usually calculated according to the number of “commits” made in a project’s GitHub repository. However, this method has some shortcomings. For example, many commits may only contain minor edits or bug fixes and may not fully reflect the progress of the project development. For this reason, it is known that Santiment developed a different approach to measuring development activity about six years ago.
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