Cardano (ADA) is making progress in terms of development activities, whilst the majority of the cryptocurrency market is still battling to recoup its value following the FTX crash, closing off one of the worst years in the industry’s history.
According to a report issued on December 30 by the on-chain and social analytics platform Santiment, Cardano has been listed as the leading blockchain protocol for development activity in 2022, followed by Polkadot (DOT) and Cosmos (ATOM).
Ethereum (ETH), which had a significant Merge upgrade this year, is now rated fourth, followed by Internet Computer (ICP), Elrond (EGLD), Flow (FLOW), Optimism (OP), Aptos (APT), and Polygon (MATIC), which placed 10th.
Although ADA ranks sixth in ROI following the token sale, the Cardano team has the greatest development activity rates of any examined protocol for the whole year of 2022.
Cardano’s recent performance is confirmed by the fact that the development activity rates in its public GitHub repositories in November were 18% greater than those of the next-highest-ranked asset, with 572.67 produced events.
In addition, Cardano’s core network operations have seen tremendous growth in 2022, with the number of smart contracts reaching 4,445 as of December 16. This is a growth rate of 394% compared to 2021.
Simultaneously, the number of native tokens on the platform grew by 192%, reaching 7.3 million, while the number of transactions on Cardano jumped by 139% to 56.9 million, and the number of wallets grew by 47% compared to the previous year.
Finbold claimed that Cardano creator Charles Hoskinson said that his team was developing a new privacy-focused blockchain dubbed Midnight, which attempts to overcome the issue of smart contract confidentiality.
Earlier, the Cardano team revived the testnet version of the Djed stablecoin, which includes additional features including compatibility with the Vasil hard fork, which was published in late September and brought enhanced smart contract capability.
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