Connect with us
Active Currencies 14829
Market Cap $2,376,893,040,087.50
Bitcoin Share 50.69%
24h Market Cap Change $-0.16

Cardano’s development game continues to lead despite lackluster price action

2min Read

Share this article

Cardano is a major blockchain platform. However, on its price side, ADA hasn’t been able to perform greatly. As the sell-off gathered pace in March, ADA dropped below the crucial support of $0.022. Despite several recovery attempts, ADA needs to attract new buyers and allow for a stronger recovery that is needed to propel the coin from the 15th position it currently stands.

Even as the coin is not among the top 10 cryptocurrencies, its ecosystem has seen a slew of developments in the first quarter of 2020. It is currently heading towards the migration of Shelley mainnet, a critical step slated to be executed by the end of the second quarter. And even as the price slashed in what is touted to be the 2020-low for the coin, this has failed to deter the considerable development that has taken place in the Cardano ecosystem.

In terms of average daily development activity on the Github in March – April, Cardano blockchain led the pack, according to Crypto Differ’s latest chart. Interestingly, following its trail was the largest altcoin, Ethereum, on the fourth position and in the last stood the largest cryptocurrency Bitcoin.

Source: CryptoDiffer

Cardano has been consistently taking the lead as it awaited the Shelley mainnet launch. Ethereum, on the other hand, slid from second-rank to fourth. Only in the second week of April did Prysmatic Labs announced the launch of the first Ethereum 2.0 test network, while this remained a moving target for the most part in the first quarter of 2020.

Cardano is often called the ‘Ethereum killer’. Even in Santiment’s Market report last year, Cardano topped the charts of the ‘busiest’ 2019 projects. Ethereum, on the other hand, was positioned second continued to head toward Ethereum 2.0, a major network upgrade tentatively scheduled for 2020, one that would lead its transition from Proof-of Work [PoW] to Proof-of-Stake [PoS].

Source: Santiment

Along the same line, Cardano Forum recently stated that,

“Cardano has left behind open source peer-reviewed designs. All projects can benefit from our research. This was not something done with Bitcoin. Cardano has made more significant contributions than Bitcoin in terms of the papers which IOHK has published.”

Additionally, in the latest ranking released by China’s Center for Information and Industry Development [CCID], Cardano was ranked 32nd. The blockchains were evaluated under three different sub-criteria: basic technology, applicability, and creativity in which Cardano was scored 60.8, 12.2 and 8.2 respectively while Ethereum, ranked third, was given 78.0, 29.5, and 29.0 scores respectively.


Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.