May 2, 2024

Report: blockchain developers move to DeFi projects

Report: blockchain developers move to DeFi projects

A new report from Outlier Ventures provides a map of development activity over the past year. The leaders were Ethereum,Cardano and Bitcoin.

According to the latest report Outlier,Ethereum was the most actively developing blockchain last year – in terms of the number of commits, activity in the protocol is 14% higher than that of Cardano, and twice as high as Bitcoin. The long-awaited decentralized file storage project Filecoin took fourth position.

When analyzing the sector, the venture capital firm relied onnumber of code commits in the Github repository. According to the company, developers are gradually switching from rival blockchains Ethereum to DeFi protocols.

Developers are leaving projects that were previouslycalled “Ethereum killers” – Tron, EOS, Komodo and Qtum. However, Polkadot and Cosmos show growing developer activity, although they are also considered competitors to Ether.

Among the Ethereum-based DeFi protocols, Aave and Balancer were the growth leaders. Maker, Gnosis and Synthetix, SushiSwap and Yearn Finance approached them in terms of developer activity.

Last year developers were also attracted by NFT projects using non-reproducible tokens.

Decentraland's virtual reality platform last year was more popular among developers than Uniswap and Compound protocols.

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