- Polkadot outranked Cardano to become the most active crypto development network.
- Cardano takes third place, currently, while leading the ranking in the previous year.
- A Cardano development team will be unveiling an algorithmic stablecoin next week.
Recently, the Polkadot (DOT) blockchain has surpassed the Cardano (ADA) blockchain as the most active crypto network in terms of development.
According to a top-ten list by the on-chain analytic firm, Santiment, Polkadot and its pre-production network Kusama (KSM) experienced more development activities over the last 30 days than ADA.
Notably, development activity is a metric measuring the development activity in a project’s public GitHub repositories, excluding private works of repositories. Santiment noted that it tracks development events using an advanced methodology to scrape data for true Github commits, excluding routine updates by projects such as regular Slack updates.
Although Cardano came in third place by development activity, the blockchain was leading the ranking in the previous year. Cardano remains one of the most prominent crypto by market share, competing against only Ethereum (ETH), Ripple (XRP), and Binance Coin (BNB).
Other honorable mentions included the metaverse token Decentraland (MANA) and Ethereum, occupying the ninth place.
Furthermore, DOT’s value increased by 10% in the last seven days to $6.43, while Cardano price increased by 12.62%, trading at $0.3772.
In other news, a Cardano development team, COTI, will be unveiling an algorithmic stablecoin with the name DJED next week. COTI, the layer-one protocol, is currently running a chain index syncing process, which is expected to complete next week before the stablecoin goes live.
The DJED stablecoin will be pegged in a one-to-one ratio against the US dollar using excess collateral in ADA tokens. Selected partners and decentralized exchanges (DEXs) will incorporate the algorithmic stablecoin and compensate users for providing liquidity using DJED.