Most Crypto Projects Still BUIDLing But Some Went Silent

September 28, 2019 / by Crypto.IQ

GitHub and development activity has always been one of the indicators investors look at when assessing a cryptocurrency project. Some will consistently have high activity on their repositories, while others will flat-line as they become overwhelmed by challenges – financial or operational.

The beauty of open-source software is that anyone can check up on a project’s development activity. As it turns out as much as 32% of all cryptocurrency projects haven’t pushed any updates on their repositories in 2019. Based on the research of 2,000 startups by the Coincodecap project, 640 were completely inactive.

While it is relatively easy to launch a token on Ethereum, it also means that projects can easily raise money but not necessarily follow up on their roadmap. Multiple projects have promised to launch their own blockchains, but few managed to accomplish their plans during the bear market of 2018-2019 for altcoins.

Nonetheless, even previously active projects have slowed down their updates. Even large-cap coins like Bitcoin Cash (BCH) and Monero (XMR) have significantly reduced their number of commits.

 However, the picture is not that grim, as blockchain company ConsenSys published an article on the top 20 blockchain projects with the most developer activity. The list was based on data collected by State of the DApps from GitHub.

According to data from State of the DApps there are over 3037 decentralized applications (dApps) running on blockchain platforms such as Ethereum and EOS.

ConsenSys notes that the data gives an indication of open-source developer activity in the blockchain space, but does not provide a definitive picture of the industry.

At the top of the list with over 5500 commits over one month on GitHub is Status messenger – the mobile crypto wallet and Web3 browser. Decentralized cloud storage network, Storj and DAO platform Aragon also catch the eye with 4800 and 4400 commits respectively.

Among the more popular names with high developer activity remains Augur, the prediction markets platform and Cosmos, the recently launched interoperability platform.

Another project that was lately in the limelight is Chainlink, the DApp which connects smart contracts to real-world data, events and payments. The project was 19th on the list for number of commits, while taking 3rd in the rankings based on the number of users.