There are more than 10K altcoins in the world at the moment! Some projects are actively developing but others have been abandoned and remained in the footnotes of history. Our team constantly evaluates various risks related to cryptocurrencies and analyzes their performance indicators to determine which projects have a potential for significant growth. One of such indirect performance indicators is development activity and the number of contributors (engineers) who develop and lead the project.
Luckily, most crypto projects have open-source nature, and it is easy to get insights about their development activities from GitHub. This platform has wide usage from programming experts to enthusiasts worldwide, and the crypto industry has been using it with a constant rise over the past few years.
We're following the simple logic - if the project is in active development and has a consistently high number of contributors, then it shows confidence in the medium and long terms perspective, and most likely, the price of its token will grow significantly. The more engineers work on the project - the greater its technical liquidity!
We've analyzed ~7,700 crypto projects by the number of GitHub contributors over the last month:
For better visual understanding, on the following graph you can discover the top 5 projects with the highest number of contributors over the past 3 months:
1. Ethereum (ETH) - is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.
Based on our data, ETH is the cryptocurrency with the highest development activity in 2021, and it continues to take a leading position this year (131 contributors and 402 commits in February):
2. Chainlink (LINK) - is a blockchain abstraction layer that enables universally connected smart contracts. Through a decentralized oracle network, Chainlink allows blockchains to securely interact with external data feeds, events, and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.
LINK takes 2nd position in our rating with a total of 113 contributors and 175 commits on GitHub in February:
3. Mina (MINA) - Mina Protocol is a minimal "succinct blockchain" built to curtail computational requirements to run DApps more efficiently. Mina has been described as the world's lightest blockchain since its size is designed to remain constant despite growth in usage. Furthermore, it remains balanced in terms of security and decentralization.
MINA took bronze with 100 GitHub contributors and 438 commits in February:
It's unexpected to see MINA at our top, considering that its price is less than $2. Nevertheless, MINA is in active development and they even released a new beta version on February 7th.
4. Chia (XCH) - is a layer 1 blockchain that uses its own custom-designed programming language called Chialisp and a novel consensus mechanism called proof-of-space-and-time (PoST). Combining these two allows the blockchain to use less energy without compromising network security. In contrast to most other blockchains, Chia Network is a public, for-profit, open-source company that aspires to become listed on NYSE or NASDAQ. Its blockchain is aimed at enterprise use, which is why Chia Network plans to have XCH on its balance sheet in case of a listing.
XCH had ~100 GitHub contributors and 169 commits in February:
5. Cardstock (CARD) - is an open-source framework that is building the first collaborative OS for Web3. Their goal is to build software that is no longer reserved for experienced developers by simplifying the complex world of NFTs, DeFi, crypto, and blockchain. They envision a Web3 where anyone can build apps, create content, and get paid in decentralized ways—no coding or crypto experience required.
CARD showed us a total of 83 contributors and 238 commits in February:
If you are interested in getting access to these and many other dashboards (Discord/Telegram audience, Twitter mentions, etc.), drop us a line here https://contora.ai/#contact