Prominent Blockchain Protocols, Including EOS, Tron, and Bitcoin Cash, Record Sharp Decline in Developer Activity
Outlier Ventures has published a survey report by blockchain and AI investment company, indicating roughly 20% drop in developer activity in 12 of the most watched blockchain and cryptocurrency ventures.
In 2Q20 Blockchain Developer Report published by Outlier Ventures’, the firm points out that advancement of projects has seen a 50% slowdown in case of popular blockchains such as EOS (EOS), Tron (TRX) and Bitcoin Cash (BCH).
In spite of the pull back in development work, the firm points out signals of robust development activity encompassing several crypto ventures, including that of Theta (THETA) and Cardano (ADA), which has recorded a rise in core code updates of 931% and 580%, respectively.
EOS recorded the quickest decline in development, with the venture’s mainnet roll out in June year recording a 86% decrease in development activity.
Bitcoin Cash witnessed the second-largest decrease in activity, with development activity decreasing by 63%. Outlier Ventures ascribes much of the decline to the Bitcoin SV (BSV) fork that happened in November 2018.
Tron also recorded a huge drop of 53% in develop activity.
Bitcoin (BTC), Cardano (ADA), Ethereum (ETH) and Corda witnessed a drop of approximately 20%, while Hyperledger, Ripple (XRP) and Stellar (XLM) recorded a decline in development on y-o-y basis. Polkadot and Cosmos (ATOM) were the only ventures to demonstrate a rise in total development, rising by 15% and 44%, respectively.
The report also assessed the number of weekly commits and code amendments for the top 30 open-source covenants by market cap, in addition to Hyperledger and Corda. Code updates on a weekly basis for Tron (TRX), EOS(EOS) and makerDAO (MKR) recorded huge drop of 96%, 94% and 98%, respectively, with VeChain (VET), Neo (NEO), Cosmos, BSV, IOTA (MIOTA), Stellar, Crypto.com (CRO), and Polkadot also recording overall decreases.
Nevertheless, over 50% of the ventures investigated have seen a considerable rise in code amendments, including Chainlink (LINK), Ethereum Classic (ETC) and Bitcoin.