Surprisingly, contributors continue to cram into the Ethereum blockchain network every month. Based on participant observations, the network saw around 2,000 contributors in the past month. These contributors are responsible for pushing code updates to GitHub. Codes are functions of different computer programs.
Invest in the most popular cryptocurrencies
The bearish trend in the cryptocurrency market does not seem to affect the number of contributors piling up in popular cryptocurrencies. Bitcoin, Ethereum and Solana are prominent examples of these digital currencies. Judging by the rate of contributors participating in these high-profile projects, the annual increase is approximately 71.6%. This goes back 4 years, in January 2018 precisely.
This information comes from research carried out by Telstra Ventures on Tuesday. According to the study, the project with the greatest increase in the number of monthly contributors is Solana. According to research data, the growth rate was around 173% as of January 1, 2018.
While this is true for Solana, the top digital currency in this category is Ethereum. Based on research information, the annual rate of increase in monthly active contributors of ETH is around 25.9%.
Finally, Bitcoin comes third among the listed digital currencies. Additionally, Bitcoin has a 17.1% annual increase in active monthly contributors.
Telstra report on Ethereum
Telstra also reported on the Ethereum developer community. According to its data, ETH has the strongest and largest community of developers compared to the other two blockchains.
In April, Ethereum had nearly 2,500 monthly contributors. In July, this figure dropped by 500 contributors, lost contributors of the month to 2,000. This event seems to coincide with the dramatic fall in the digital market.
Additionally, Telstra revealed its thoughts on the possible cause of the uninterrupted increase in the number of active contributors. According to his report, the increase in the number of contributors could be explained by the need for better performance in view of the planned merger. This event puts the network into a PoS (Proof-of-Stake) mechanism.
The Telstra report also cites the comparison between Bitcoin, Solana and Ethereum based on their active monthly contributors. According to his statement, ETH’s monthly contributors were more than four times that of Bitcoin’s in July.
At the time, bitcoin had around 400 contributors. Meanwhile, Ethereum’s monthly contributor figure exceeded SOL’s nearly sevenfold. During the same period, Solana only had about 350 monthly contributors.
The report also shows a decline in contributor growth of 9% since November last year. But, again, this coincided with the fall in the digital currency market price from when it was at its highest.
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