While overall developer activity is down for most leading crypto assets, core code updates appear to be on the increase.
A report published by blockchain and AI investment firm Outlier Ventures has found a decline in developer activity of roughly 20% on average across 12 leading blockchain and cryptocurrency projects.
In Outlier Ventures’ Blockchain Developer Report for the second quarter of 2020, the firm notes that development fell by half for top markets Bitcoin Cash (BCH), Eos (EOS), and Tron Tron (TRX).
Despite the retraction in building, the firm notes that some signs of strong developer activity surrounding various crypto projects, with Theta (THETA) and Cardano (ADA) seeing increases in core code updates of 931% and 580% respectively.
Top crypto projects see slides in development
Eos saw the fastest drop in development, with the project’s mainnet launch in June year precipitating an 86% fall in building taking place.
Bitcoin Cash saw the second-largest decline in activity, with development falling by 63%. Outlier Ventures attributes much of the drop to the Bitcoin SV (BSV) fork that took place in November 2018.
Tron also saw a heavy retracement in development, with a 53% drop in activity.
Monthly active development on Tron, Eos, and Bitcoin Cash: Outlier Ventures
Cardano, Bitcoin (BTC), Ethereum (ETH), and Corda all saw activity fall by nearly 20%, while Ripple (XRP), Hyperledger, and Stellar (XLM) also saw development declines year-over-year.
Polkadot and Cosmos (ATOM) were the only projects to exhibit an increase in total development, increasing by 15% and 44% respectively.
Code update on the rise for most cryptos
The report also measured the number of weekly commits and code updates for the top 30 open-source protocols by market cap, plus Corda and Hyperledger.
Weekly code updates for Eos, Tron, and MakerDAO (MKR) saw huge update decreases of 94%, 96%, and 98% respectively, with VeChain (VET), Stellar, BSV, Neo (NEO), Crypto.com (CRO), Cosmos, IOTA (MIOTA), and Polkadot also posting declines overall.
However, more than 50% of the projects examined saw a significant increase in code updates, including Ethereum Classic (ETC), Chainlink (LINK), and Bitcoin.