Cardano’s Alonzo Fork has only been up for a little more than 3 months, yet the blockchain is already finding interest among developers.
Cardano (ADA) was the most developed coin on Github in 2021, according to data given by CryptoRank and Santiment, with over 140,000 events.
Kusama (KSM) and Polkadot (DOT), in second and third position, respectively, with nearly the same number of events across the year, 2021, completed the top three. Cardano’s development activities outperformed Ethereum’s by a large margin, with the latter landing in fourth place. A Github event, according to Santiment, is any of the following: creating an issue, creating a pull request, commenting on an issue or pull request, forking/starring/watching a code repository, and so on.
Cardano founder Charles Hoskinson revealed that there are approximately 127 projects in development on the Cardano blockchain during a live Youtube session last week. Furthermore, due to the growing popularity of non-fungible tokens, Hoskinson anticipates the number of ADA users to expand tenfold from the current 2 million.
Following Alonzo, Cardano’s technological innovation is gaining traction. The layer-two Hydra update, which routes transactions off-chain to staking pools without dividing the ledger, is one of the blockchain’s most prominent ongoing projects. It might theoretically allow for sophisticated network linear scaling with hundreds of “hydra nodes” each handling hundreds of transactions.
A revolutionary fintech funding method known as the initial stake pool offering (ISPO), which is exclusive to the Cardano blockchain, is also worth mentioning. In this scenario, blockchain aficionados delegate their cryptos to a protocol and are rewarded with tokens from the new project they fund. The ADA staking incentives, on the other hand, go to the creators. The process is somewhat secure because funds do not leave the delegator’s wallet. Genius Yield, for example, had its ISPO pools reach $118 million in less than 24 hours.