Cardano Loses Network Top Spot With Too Much Development – Here’s A New Leader

Cardano (ADA) faced a major crisis after losing its top position as the leading development network. Despite the founder of Cardano, Charles Hoskinson, recommending major updates and developments within the blockchain network, ADA has been overtaken by other crypto networks, pushing it to fifth place.

ADA Loses Top Spot for Network Development Work

On the latest X (formerly Twitter) posted, Santiment, a market intelligence platform has revealed a list of top cryptocurrencies with the highest development activity. Cardano, which has been a big front runner development projectsconsistently tops the charts, recognized for its research-driven methods and commitment to sustainability to develop its network within the blockchain ecosystem.

However, in its post Santiment revealed that Cardano is now ranked fifth among the top 10 crypto coins with the highest frequency of network development. Top of the list Hedera (HDAR)a distributed ledger platform followed by Chainlink (LINK), an oracle network designed specifically for smart contracts. In contrast, Hope (OP) and Internet Computer (ICP) rank third and fourth, respectively.

Santiment revealed that its list of crypto coins is extensive network development it was decided and sorted by looking and counting the tasks that are not needed in the project. The market intelligence platform revealed that it averaged this daily activity over the past 30 days to come up with its current results.

Sharing a chart showing the prices and market capitalization of all the top 10 cryptocurrencies, Santiment revealed that the arrows on the chart represent cryptocurrencies that have risen or fallen from their previous positions. Cardano, marked with a red arrow, has dropped from its previous position to fifth place.

Update on Various Cardano Network Developments

Despite the fact that Cardano has lost its top position for the highest development activities, the cryptocurrency still uses a significant amount important projects and developments aimed at improving its ecosystem and improving its sustainability. Collin Brown, a blockchain researcher and Cardano supporter, has revealed just a few of the ongoing developments within the The Cardano ecosystem.

According to Brown, the ADA is currently undergoing a major technical overhaul to improve efficiency and effectiveness. The group in the background Mithrilprotocol, which helps increase Cardano’s adoption, has also released a “threat modeling descriptor,” improved network transaction verification and embedded transaction verification bugs to better measure efficiency.

Cardano is also taking the initiative to improve the network nodes as well smart contract development. The blockchain network has released list of “Real World Integration Partners,” with more than 12 global companies on the same level.

It is the core of its development activities Replace the hard fork, which is expected to launch anytime soon. Chang’s development is expected to deliver new governance in the Cardano ecosystem and improve its overall performance and functionality.

The featured image was created with Dall.E, a chart from Tradingview.com