Cardano Loses Top Spot For Network With The Most Development – Here’s The Latest Leader

Cardano (ADA) has faced a major blow after losing its top position because the leading network for development activities. Despite the Cardano founder, Charles Hoskinson, lauding major updates and developments throughout the blockchain network, ADA has been overtaken by other crypto networks, pushing it all the way down to fifth place. 

ADA Loses Top Spot For Network Development Activity

In a recent X (formerly Twitter) post, Santiment, a market intelligence platform outlined an inventory of the top-ranking cryptocurrencies with the best development activities. Cardano, which has been a significant front-runner in developmental projects, has consistently topped charts, recognized by its research-driven approaches and commitment to repeatedly advancing its network throughout the blockchain ecosystem. 

Nonetheless, in its post Santiment disclosed that Cardano now ranks fifth position amongst the highest 10 crypto coins with the best network development frequency. At the highest of the list is Hedera (HDAR), a decentralized ledger platform followed by Chainlink (LINK), a decentralized oracle network specializing in smart contracts. In contrast, Optimism (OP) and Web Computer (ICP) rank third and fourth positions, respectively.

Santiment has revealed that its list of crypto coins with substantial network developments was determined and sorted by observing and counting primary non-redundant activities in a project. The market intelligence platform disclosed that it had averaged this each day activity over the past 30 days to provide you with its current results. 

Source: Santiment

Sharing a chart depicting the costs and market capitalization of all top 10 crypto coins, Santiment disclosed that the arrows within the chart represented cryptocurrencies which have ascended or descended from their previous positions. Cardano, marked with a red arrow, has dropped from its previous top position to fifth place. 

Update On Various Cardano Network Developments

Despite Cardano losing its top spot for the best development activities, the cryptocurrency still runs a major variety of key projects and developments geared toward advancing its ecosystem and improving its sustainability. Collin Brown, a blockchain researcher and Cardano supporter, has disclosed just a few of the continued developments throughout the Cardano ecosystem.

Based on Brown, ADA is currently undergoing core tech optimizations to boost efficiency and performance. The team behind Mithril, a protocol, which helps boost Cardano adoption, has also released a “threat modeling explainer,” enhanced the network’s transaction certification and stuck transaction verification bugs to improve scaling efficiency

Cardano can be taking the initiative to boost network nodes and its smart contract advancements. The blockchain network has released an inventory for “Partners and Real World Integration,” featuring over 12 global tier-one firms.

At the guts of its developmental activities is its Chang hard fork, anticipated to launch any time soon. The Chang upgrade is predicted to bring recent governance to the Cardano ecosystem and improve its overall functionality and performance. 

Cardano price chart from Tradingview.com
ADA price pushes above $0.41 | Source: ADAUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

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