English
Arabic
French
Spanish
Portuguese
Deutsch
Turkish
Dutch
Italiano
Russian
Romaian
Portuguese (Brazil)
Greek
On Thursday (29 December 2022), crypto analytics startup Santiment, which provides tools that make “powerful OnChain, Social & Financial analysis accessible to anyone”, commented on the 2022 development activity of the major blockchains.
Throughout, some extremely harsh critics of Cardano — the most infamous of which is Mike Alfred, who is Founding board member and first seed investor at Eaglebrook Advisors — have essentially called it a ghost chain, claiming that nobody uses it:
However, yesterday, Santiment said in a blog post that Cardano was the strongest blockchain by its “Developer Activity” metric
Here is how Santiment defines and explains this metric:
“The development activity of a project is done in its public GitHub repositories. The work done in private repositories is hidden from the public and cannot be tracked. In Crypto, a lot of the work is done in public repositories, so this metric is available for many projects.
“A developer’s time is a relatively expensive resource (especially in Crypto), so high development activity implies that: The project is serious about its business proposition; The project will likely ship new features in the future; It’s less likely that the project is just an exit scam. Simply put, Development Activity can be used to gauge a project’s commitment to creating a working product, and continuously polishing and upgrading its features.“
Source: SanbaseOn 21 December 2022, Cardano Foundation explained why 2022 has been a fantastic year for smart contracts platform Cardano ($ADA).
Cardano Foundation is “an independent Swiss-based non-profit that oversees and supervises the advancement of Cardano.” It is the legal custodian of the Cardano brand and it collaborates with IOG and EMURGO to “ensure that Cardano is being developed and promoted as a secure, transparent, and accountable solution for positive global change.” Cardano Foundation “sets the direction for decentralized economic empowerment, working with regulators in different jurisdictions to shape blockchain legislation and commercial standards, and empowering the Cardano community to leverage the Cardano protocol to solve real-life problems.”
Here are some of Cardano’s main achievements in 2022 mentioned by Cardano Foundation:
- impressive on-chain growth (number of native tokens, wallets, Plutus scripts, transactions, and delegated wallets went up 192%, 47%, 394%, 139%, and 27% respectively);
- many new partnerships and collaborations (e.g. with NMKR, UZH Blockchain Center, and veritree);
- Cardano Summit 2022, which was held November 19-21, 2022 in Lausanne, Switzewrland;
- taking part in 20+ events (e.g. Consensus 2022) around the world; and
- 50 Cardano Improvement Proposals (CIPs) reviewed.
Image Credit
Featured Image via Unsplash
Newsletter
To make sure you receive a FREE weekly newsletter that features highlights from our most popular stories, click here.
Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
RELATED ARTICLES
SHIBA INU
$SHIB: As Layer 2 Blockchain Shibarium Gets Ready for Beta Launch, Devs Explain Key Concepts
BITCOIN
$BTC: El Salvador’s Congress Passes Legislation Enabling Raising Funds Via ‘Volcano Bonds’
BITCOIN LIGHTNING NETWORK
Bitcoin Transactions Without Smartphones: How Machankura’s Wallet Makes This Possible
MOST READ
Geopolitical Tailwinds Have ‘Strengthened Long-Term Value Proposition’ of Crypto: CryptoCompare Report
- 21 Apr 2022
VanEck Launches ETNs for Terra ($LUNA), FTX Token ($FTT), and Algorand ($ALGO)
- 6 Apr 2022
Ripple’s Global Head Institutional Markets Talks About XRP-Powered ODL at CCDAS 2022
- 2 Apr 2022
Exclusive: 21Shares President on Huge Success of $SOL and $DOT Products and Why They Use CryptoCompare’s Price Data
- 30 Mar 2022
Solana Network: Highlights From Breakpoint Conference Paint a Very Healthy Picture
- 11 Nov 2021
$SHIB: As Layer 2 Blockchain Shibarium Gets Ready for Beta Launch, Devs Explain Key Concepts
- Siamak Masnavi
- 16 Jan 2023
- /
- In #Shiba Inu
On Sunday (15 January 2023), the Shiba Inu ($SHIB) team explained the fundamental concepts of Shibarium — a layer two blockchain designed to address the shortcomings of the $SHIB token’s host chain Ethereum, namely low speed and high transaction cost — that is expected to have its beta launch soon.
Here is what Binance Academy says about Shiba Inu ($SHIB):
“Shiba Inu (SHIB) is a dog-themed meme cryptocurrency named after a Japanese dog breed. It was created in 2020 by an anonymous developer named Ryoshi, who designed SHIB to be an alternative to Dogecoin (DOGE) on the Ethereum blockchain.
“SHIB is an ERC-20 token with a decentralized exchange called ShibaSwap. The SHIB roadmap and ecosystem also features an NFT art incubator called Shiba Artist Incubator, 10,000 ‘Shiboshi’ NFTs, and an NFT game Shiboshi Game.
“Shiba Inu had an initial circulating supply of 1 quadrillion tokens. Ryoshi locked 50% of the token in Uniswap to create liquidity, and sent the other 50% to Ethereum co-founder Vitalik Buterin’s wallet. However, Vitalik decided to burn 90% of the coins and donate the remaining 10% to charity.“
In a blog post published on 15 January 2023, the Shibarium team explained that Shibarium’s mission is twofold: to offer a resource for the community to construct and expand the project on their own terms, and to invite new crypto users and educate them on the development process of a ground-up project.
To the developers, the question of when to begin the phased rollout is secondary to the importance they have on building Shibarium properly and presenting it responsibly. Also, they stress the importance of being patient, since some may mistake Shibarium for a tool to artificially boost the price of $SHIB and $BONE tokens.
Shibarium’s Layer 2 blockchain is built atop the Ethereum blockchain. It is intended to function in tandem alongside the preexisting blockchain network, enabling off-chain processing of transactions that are faster, cheaper, and more private while depending on the Ethereum blockchain’s security.
They went on to say:
“This blockchain (L2) runs on top of the Ethereum blockchain, which the SHIB ecosystem tokens (SHIB, LEASH & BONE) utilize. A Layer 2 blockchain provides the benefits of scalability, faster transaction times, lower fees, and an expanded development framework…
“So how do we remove the barrier to entry for the small transactions that occur in day-to-day living? In L2 blockchains like Shibarium, transactions occur ‘off-chain’, meaning transactions occur outside of the Layer 1 (Ethereum) blockchain, and are communicated back. Allowing the L2 blockchain to do the majority of the processing work alleviates bandwidth which results in lower costs (gas fees) and processing time for the end users…
“As previously announced, $BONE is the native token selected to pay for gas transactions and reward Validators and Delegators within the Shibarium protocol. Since its birth in July 2021, its main function has been linked to governance, but now also the much anticipated Shibarium launch… With a total supply of 250 million, of which 20 million have been reserved to reward Validators and Delegators in the coming years, and voted in by the Shiba community through our DAO process…
“In Shibarium, Validators are instrumental members of the network who contribute to operability security by locking up a certain number of $BONE tokens and operating Heimdall Validator and Bor block producer nodes…
“Heimdall Validator is an open-source validator software that can be used to participate in different blockchain networks. It is built using the Tendermint consensus engine, which allows it to process and validate transactions quickly and securely. It is designed to be easy to use, with a simple and intuitive user interface that allows users to monitor the status of their validator, delegate tokens, and more. Heimdall Validator allows to process and validate transactions quickly and securely, while analyzing and reinforcing integrity…
“Bor is the EVM-compatible layer responsible for block production. Bor offers EVM compatibility to leverage the developer functionality of Ethereum. The Bor layer is responsible for all peer-to-peer interactions on Shibarium. The committee of block producers is assembled and periodically shuffled from the list of validators.“
On 11 January 2023, the Shibarium team confirmed that Shibarium will require using $BONE to pay for transaction/gas fees and will burn $SHIB with every transaction (thereby making $SHIB more scarce, and potentially increasing its value):
