Investment firm Outlier Ventures has reviewed cryptocurrency projects based on developer activity over the past 12 months. The report’s findings reveal a dramatic drop in active developers in EOS (EOS), Bitcoin Cash (BCH) and Tron (TRX).
A new report published by blockchain and AI investment firm Outlier Ventures reported that the developer effectiveness of some leading altcoins has dropped significantly.
EOS (EOS), Bitcoin Cash (BCH) and Tron (TRX) have been the three biggest crypto projects in active developers, according to the Blockchain Developer Report, which addresses the developer activity in the past 12 months. Of these, EOS saw a deep decline of 86 percent in the past year, while a 63 percent decrease in Bitcoin Cash and a 51 percent decrease in Tron.
The direction was down, though not so striking in larger cryptocurrencies. Nearly 20 percent decrease was seen in this metric in Bitcoin (BTC) and Ethereum (ETH). The reduction in large protocols was associated with the Kovid-19 outbreak. It was also emphasized that the rapid decline in prices between February and April led to a decrease in interest from abroad and therefore a decrease in volunteer participants.
The best growth in active developers was in Poldakot (DOT). Monthly active developers in this cryptocurrency project increased by 44 percent compared to the previous month.
On the other hand, in weekly code updates, Maker (MKR), TRON (TRX) and EOS (EOS) experienced the biggest drops, with 98 percent, 96 percent and 94 percent, respectively. It was stated that the striking decline in Maker could be attributed to the high developer activity related to the launch of DAI towards the end of 2019 and the failure to maintain this momentum after the holiday period. It is stated that the decreases in TRON and EOS are probably due to the same reasons. Theta (THETA) and Cardano (ADA) saw the largest increases in the same metric, rising from 931 percent to 580 percent, respectively.