Developers drop old “Ethereum killers” for DeFi, NFTs and newer chains

Engineers and software developers are slowly turning their attention away from single-tier blockchains, once called “Ethereum Killer”, the increasing number of new decentralized financial protocols.

A February report on blockchain development trends from venture capital firm Outlier Ventures suggests so Developers no longer focus on their rivals in Ethereum.

The results confirm that In the past twelve months, Ethereum has remained the most actively developed blockchain protocol, followed by Cardano and Bitcoin. The decentralized file storage project Filecoin ranks fourth in the year of its publication.

Developers drop old “Ethereum killers” for DeFi, NFTs and newer chains
Developers drop old “Ethereum killers” for DeFi, NFTs and newer chains

The report notes that Although some new platforms such as Polkadot, Cosmos, and Avalanche are seeing an increase in developer activity, many of Ethereum’s traditional competitors are seeing a decline in core development.

“The killers of Ethereum, Tron, EOS, Komodo and Qtum are seeing a decline in core development metrics.”

The report states: Ethereum-based DeFi platforms were a hit in 2020, seeing a surge in developer activity. and Aave and Balancer showed the highest growth.

Besides these two, The most active projects were Maker, Gnosis, and Synthetix, while two other recently introduced DeFi protocols also gained developer activity.

“SushiSwap and Yearn Finance, both launched in 2020, quickly grew into and beyond the development activity and size of most other DeFi protocols.”

During the peak of the DeFi boom in mid-2020, Santiment’s investigation found that DeFi’s main platforms in terms of development activity were Maker, Synthetix, Band Protocol and Augur.

DeFi wasn’t the only growth sector, given the activities of the NFTs (non-fungible tokens) and the projects of the Metaverse like virtual worlds, collectibles, games and crypto art, They also saw increased interest in the market.

This was pointed out in the report Decentraland had development activities at similar levels to some of the major blockchain technologies like Stellar and Algorand and was superior to some of the more popular DeFi protocols like Uniswap and Compound.

To generate the data, the researchers analyzed the Github repositories and commitsDevelopers submit updates, improvements, and code suggestions here.

Yet, Ethereum is still king overall, with 14% more developer activity than its closest rival, Cardano, and almost twice as much as Bitcoin. in terms of commits.

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