Blockchain developers are devoting less time to once-popular protocols like Tron and EOS, often called Ethereum killers, in favor of newer multi-blockchain solutions like Polkadot.
According to the report by venture capital firm Outlier Ventures, there is a decrease in developer activity in projects such as Tron, EOS, Komodo, Qtum, etc., which were once considered to be Ethereum’s main competitors.
According to Github, the number of commits in Qtum decreased by almost 100%, and in Komodo by about 60%. Komodo is a blockchain platform that uses “atomic swaps” for the decentralized exchange of cryptocurrencies across different blockchains. Qtum is an open source blockchain system designed to combine technologies of Bitcoin and Ethereum networks.
At the same time, development activity in multi-blockchain protocols such as Polkadot, Cosmos and Avalanche is growing. Thus, the number of commits to Avalanche, a blockchain platform for Ethereum Virtual Machine integration, increased by 120%.
While the average number of developers working with Komodo in a month decreased by 60%, then the average number of Avalanche developers, on the contrary, jumped by 300%.
There was an increase in developer interest in decentralized financial applications. Thus, commits to the Aave decentralized lending protocol grew by 763%, to Bancor by 264%, and to Set Protocol by 161%.
The redistribution of interests did not affect Ethereum. The Ethereum blockchain remains the most actively developed blockchain protocol, the report says. The average monthly number of active Ethereum developers is 220, with the number of commits to code reaching 42457.
Apart from Ethereum, the most actively developed blockchain protocols are Cardano, Bitcoin and Filecoin.
Meanwhile, Ethereum renewed its all-time high again, surpassing $1500. But even this price seems too low to many investors. Bitcoin billionaire Cameron Winklevoss commented on ETH’s current growth stage:
“At $1500 Ether $ETH is still undervalued…just like there is no ceiling on the value of the Internet, long term the possibility for decentralized apps and computing is LIMITLESS.”