Bitcoin- Not the Most Developed Cryptocurrency of 2018, Cardano Wins the Race
Bitcoin which is considered the world’s most traded cryptocurrency didn’t even make it to the top 50 most developed digital currencies last year, as per the data collected from CoinCodeCap.com. It was found at the 52nd rank. The world’s largest cryptocurrency could not fetch Bitcoin the title of most developed cryptocurrency.
Whereas, on the other hand, a new cryptocurrency- Cardano, which does not even make it to the list of world’s top 10 valued currencies, had left behind several major digital currencies when it came to the most developed cryptocurrencies in the world. In the code repositories, Cardano earned 46000 commits. Next to Cardano was Augur. Although Augur ranks at 48th position in the world’s most valued cryptocurrency list, it earned the second position in the most actively developed cryptocurrency race. In the last twelve months, it earned 22000 commits. Following Augur closely were other digital currencies, i.e., Ox, Ethereum (ETH) and Lisk, which were most developed in the last year.
Commits are more like a documentation of any type of changes or any updates that a project has experienced. One of the developers of CoinCodeCap said-
“A commit, or ‘revision,’ is an individual change to a file (or a set of files.) It is like when you save a file, except with Git, every time you save it creates a unique ID (also known as the ‘SHA’ or ‘hash’) that allows you to keep a record of what changes were made when and by whom. Commits usually contain a commit message which is a brief description of what changes were made.”
Therefore, the top ten digital currencies naturally with most commits that made to the list of most developed digital currencies last year were- Cardano (ADA) with 45,758 commits, Augur (REP) with 21,644 commits, Ox (ZRX) with 18,095 commits, Ethereum (ETH) with 15,617 commits, Lisk (LSK) with 14,754 commits, Status (SNT) with 13,534 commits, TRON (TRX) with 12,283 commits, Komodo (KMD) with 12,173 commits, Skycoin (SKY) with 12,068 commits, and Waves (WAVES) with 11,732 commits; as per the data collected from CoinCodeCap and CoinMarketCap.
Commits are the reflection of the amount of work done behind the digital currency. It shows the value of the cryptocurrency. It is just like the rates of the share of the common stock are based on an organization’s or company’s performance at the moment. Therefore, investing or trading any digital currency is like investing in the amount of work done on the project that the digital coin or currency reflects. The work can be equated to the number of efforts that are put into the digital currency by the developers to back it up. According to CoinMonk, the flow from Tech developments to earnings goes through intermediary stages that are- value creation and mass adoption. But regarding the digital currency, this pattern goes in a reverse order, which can naturally be problematic.
But over a long period, the growth pattern straightens up. For instance, the growth cases such as Ethereum, and Bitcoin, have seen a good rise in their values since they were introduced, despite the turbulence in the crypto market. It could become possible because of the excellent technology they come with. Likewise, many other cryptocurrencies show similar growth patterns.