Journalist
Posted:
- Chainlink and Filecoin were two projects that took development activities seriously.
- While Chainlink’s network growth declined, Filecoin’s social dominance increased.
The past 365 days have been eventful for most projects in the crypto space. Some days there is a lot to be excited about. In others, players simply hope that the day will end in the blink of an eye.
Realistic or not, here it is FIL’s market capitalization in LINK terms
Despite the inconsistencies, there are some who have previously focused on ensuring their project does not fade into oblivion. Some of the best include Chainlink [LINK] and Filecoin [FIL]two of whom have demonstrated tremendous commitment to development activities.
Continued growth since last year
Usually projects are like Dot [DOT]And Cardano [ADA], have remained at the top of these rankings, and that hasn’t changed. Santiment, however noted that the dedication shown by Chainlink and Filecoin over the past year has seen them jump to fourth and tenth positions respectively on the development activity charts.
Chainlink and Filecoin development activities
Development activity measures how often and how committed a project is to innovating and polishing its network. This metric is usually measured by considering the public GitHub repositories associated with a project.
High development activity means an increase in the number of repositories. But when the metric decreases, it means code commits for a project have slowed down.
For Chainlink, its commitment to upgrades goes back to its obsession with cryptographic truth. This obsession also led to the development of the Cross-Chain Interoperability Protocol (CCIP). Defined as the ability of different blockchain networks to communicate with each other, CCIP appears to have been a game changer for Chainlink.
Its development has also been crucial for the integration of the project Base, Ethereum [ETH]And Polygon [MATIC]. Filecoin, on the other hand, is supported by improvements with its decentralized data storage. This led Santiment to the conclusion that:
“The Filecoin team has also started to pick up steam since July.”
Shaky adoption, increasing attention
Sometimes an increase in development activity and impressive upgrades are the reason groundwork for more adoption. Has this been the case with Chainlink and Filecoin? To analyze this, let’s look at network growth.
According to Santiment, Chainlink’s network growth peaked to 3,415 on July 21. This sharp increase implicit that many new addresses interacted with the network. However, that was the last time the metric experienced such growth.
How many Worth 1,10,100 LINKs today?
At the time of writing, Chainlink’s network growth had dropped to 1832, meaning the traction gained by the project had declined. Meanwhile, Filecoin’s social dominance has been relatively majestic. Since July, the metric has risen significantly at several intervals.
Chainlink network growth and Filecoin social dominance
At the time of writing, Filecoin’s social dominance stood at 0.11%, as shown above. This means that the share of discussions about Filecoin, compared to other projects, has been correspondingly impressive.