After getting off to a great start in 2023, the increase in the market for cryptocurrencies has now cooled down somewhat. Despite the slowdown in price gains, the development teams behind a number of different digital assets are taking the initiative to help their particular assets increase their value.
As of March 2, 2023, Polkadot (DOT) and its pre-production network Kusama (KSM) lead the GitHub development activity at 817, followed by Cardano (ADA) at 670, according to data retrieved by Finbold from ProofofGitHub. Internet Computer (ICP) ranks third with 577, while Status (SNT) is placed fourth with 549, and Hedera (HBAR) is ranked fifth with 446, respectively.
Elsewhere, the second-ranked crypto by market cap, Ethereum (ETH), has the sixth-highest development activity at 634. At the same time, the metaverse game Decentraland (MANA) is seventh at 607, Aptos (APT), Filecoin (FIL), and MultiverseX make up the rest of the top 10.
Polkadot stays top of development activity
Polkadot continues to maintain its development activities with the network that has been termed the “blockchain of blockchains,” dwarfing other recognized names such as Cardano and Ethereum.
In point of fact, Polkadot was the frontrunner in terms of development activities for the month of January 2023.
The development is, in fact, a reflection of the work made by the Polkadot team following the publication of a roadmap on improving the scalability of the platform. A portion of the road map is dedicated to synchronous backup, also known as the de-coupling of the extension of parachains and the extension of the relay chain.
It is anticipated that the improvement would result in an increase in network speed of between 100,000 and 1 million transactions per second.
Finally, with the rise of Artificial Intelligence (AI) and machine learning algorithms, investors are now turning to these advanced technologies to help them predict the future price of cryptocurrencies, given the volatile nature of the crypto market. According to data retrieved on February 28 from CoinCodex’s machine self-learning technology, Polkadot is predicted to trade at $17.39 on December 30, 2023.