Cardano Secures the Top Position in Development Activity

• Santiment published the list of the top blockchain protocols in 2022 regarding the development activity.
• According to the list, Cardano has secured the first position, while Polkadot and Cosmos ranked second and third respectively.
• However, Cardano has only been placed in the sixth position while calculating the ROI ratio.

According to thereports of the analytics platform Santiment, the public blockchain platform Cardano has been ranked as the top protocol by development activity.

Earlier last week, Santiment tweeted the list of the top 10 blockchain protocols in 2022 by development activity:

As per the report, the blockchain platforms Polkadot and Cosmos followed Cardano, securing the second and third positions respectively.

Interestingly, it is found that one of the leading blockchain platforms, Ethereum has only been placed in the fourth position despite its upgrade into the Proof-of-Stake consensus mechanism in September 2022.

Notably, the whole crypto space had been under rigid circumstances since 2021, caught in the severe crypto winter. In addition, the macroeconomic challenges, market factors, and scandals had a huge negative impact on crypto for more than 12 months.

Specifically, the fall of the Terra economy in May 2022 and the significant crash of the once-prominent platform FTX seriously affected the crypto environment resulting in continuous declines in crypto prices, bankruptcies, and thefts.

Among the few observations of Santiment, it is noticed that the retail management software company Aptos has been “working super hard before the mainnet and chilled down after.”

Also, as per the observation of the platform, the crypto platform Solana’s activity is strong and could have been on the list,  but the metric was declining heavily throughout the year.

Additionally, Santiment cited the list of the already mentioned assets in terms of the Return on Investment (ROI). Though Cardano was at the top position regarding its development activity, in terms of ROI, the asset had only an average performance in 2022, ranking 6^th.

Significantly, Internet Computer (ICP), Flow (FLOW), and Polkadot (DOT) were top-rated assets in terms of ROI. Despite ICP’s 5^th position and FLOW’s 7^th position in the development activity protocol list, they have achieved the top positions in the list of assets that excelled while calculating the ROI ratio.

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• Source: https://coinedition.com/cardano-secures-the-top-position-in-development-activity/