A new report from Santiment, a cryptocurrency analytics company, revealed the top 10 most developed altcoins on GitHub last month.
Santiment's report tracked GitHub commits over a 30-day period. A GitHub commit is a change to a project's code.
According to Santiment, Polkadot (DOT) and Kusama (KSM) were the top two altcoins with the most development activity in June, followed by Cardano (ADA), Status (SNT), Hedera Hashgraph (HBAR), Internet Computer (ICP), respectively. Cosmos (ATOM), Vega Protocol (VEGA), Chainlink (LINK), and Decentraland (MANA) followed suit.
Polkadot and Kusama are two projects that aim to create a network of interoperable blockchains or parachains that can support a variety of applications and use cases. While Polkadot is the mainnet, Kusama is an experimental network that allows developers to test new features and innovations before deploying them in Polkadot.
Santiment noted that development activity is not necessarily associated with price performance, but demonstrates the level of commitment and innovation of the teams behind these projects.
Santiment also gave the following reasons for why high developer activity is important for an altcoin:
- These people believe that the project will be successful.
- The project provides more features.
- The project is less likely to be just an exit scam.
*Not investment advice.