Active contribution across Solana, Bitcoin and Ethereum Grow
It is surprising how contributors are still piling into the Ethereum blockchain network every month. Based on participant observations, the network saw around 2,000 contributors last month. These contributors are responsible for pushing coding updates to GitHub. The codes are functions of different computer programs.
Delve into popular cryptocurrencies
The bearish trend in the crypto market does not seem to affect the number of contributors piling into popular cryptocurrencies. Some prominent examples of these digital currencies are Bitcoin, Ethereum and Solana. Judging by the estimated proportion of participating contributors to these top projects, the annual increase is around 71.6%. This dates from 4 years ago, January 2018 to be exact.
This information came from research conducted by Telstra Ventures on Tuesday. Based on the study, the project with the highest increase in monthly contributors was Solana. According to the research data, the growth rate was approximately 173% as of January 1, 2018.
While that is true for Solana, the first other digital currency in this category is Ethereum. Based on the information in the research, ETH’s annual share of increasing monthly active contributors is around 25.9%.
Finally, Bitcoin comes in third place among the listed digital currencies. Additionally, Bitcoin has a 17.1% annual increase in monthly active contributors.
Telstra’s report on Ethereum
Telstra also reported on the developer community of Ethereum. From its data, ETH possesses the strongest and largest developer community compared to the other two blockchains.
As of April, Ethereum had nearly 2,500 monthly contributors. When it comes to July, this number dropped by 500 contributors, and the month’s contributors were 2000. The event seemed to coincide with the dramatic plunge in the digital market.
Furthermore, Telstra revealed its thoughts on the possible reason for the continued increase in active contributors. From the report, the increase in contributors can be traced to the need for better results in the preparations for the expected merger. This event transitions the network to a Proof-of-Stake (PoS) mechanism.
Telstra’s report also cited the comparison between Bitcoin, Solana and Ethereum based on their monthly active contributors. As of the statement, monthly contributors to ETH were over four times larger than Bitcoin’s in July.
At the time, Bitcoin had around 400 contributors. Meanwhile, the number of Ethereum’s monthly contributors surpassed SOL by almost seven times. During the same period, Solana had approximately 350 monthly contributors.
The report also stated the drop in contributor growth by 9% from November last year. But again, this coincided with the fall in the price of the digital currency market from the time of its highest price mark.
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