- Chainlink developers have committed more code than either of the two other companies.
- The number of holders and the traction on the network decreased.
Chainlink’s [LINK] The development activities have surpassed those of Cardano [ADA] You can also find out more about the following: Polkadot [DOT] Cardano has been the second most popular cryptocurrency in the world according to Santiment, a provider of on-chain analytic services. Cardano is ranked number 2 according to Santiment. Polkadot dropped down to the 6th spot after being at the top of many tables.
The development activity is based on the public GitHub activity derived from a repository. A developer’s precious time can be expensive. If a blockchain is at the top of this graph, that means the engineers are confident in the mission.
Santiment
They commit code to improve the system. Cardano’s and Polkadot s decline It does not imply that the developers did not think they were worthy. Chainlink may have more features than either of the two.
Is Chainlink more decentralized?
AMBCrypto inspected the project to determine if any upgrades were planned. However, we were not able to locate one. But we did find out why everyone was on the same page at the communication protocol.
Chainlink, for those who are unfamiliar with it, is one of pioneering projects in tokenization. We have been working on a new project. reported TradFi’s players are attracted to projects that have such solid foundations.
TradFi stands for Traditional Finance. It was only fair that blockchain boosted whatever work This is what it did before.
Glassnode data revealed that Chainlink is doing well at decentralizing its network. The reason for this was the signal Herfindahl Index was shown.
Glassnode
Growth of the network decreases
The Herfindahl Index sums up the weighted balance of addresses on a given network. The metric, which is calculated using this formula, can determine whether a particular project has a high level of decentralization.
A large score indicates a concentration of supply and an uneven distribution. A small score, on the other hand indicates an even distribution of funds.
Adoption could be boosted by a more decentralized system. AMBCrypto decided to see if there was a significant amount of interest in the project. Santiment’s Network Growth Metric was used to calculate the growth of our network. noticed The number of people increased from 1783 to 1783 as of the 11th March.
Network Growth represents the number of addresses that make their first transaction. The metric was 347 at the time of publication, indicating a decrease in LINK adoption.
The total number of LINKs has also decreased.
Santiment
No matter if you think it’s realistic or not. LINK’s market cap in ADA terms
The number of holders on the 19th March was 724,000. The number of holders has decreased to 723,000 as at this time, which indicates some people are letting go of previous holdings.
Chainlink’s ascent to the forefront of all development activities is an important milestone. The project may not be able to maintain its peak if Cardano, Polkadot, and other developers increase production.
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Source: ambcrypto.com
