Ethereum Has Surpassed Bitcoin In This Metric!
Ethereum (ETH) took the lead. Bitcoin (BTC) is no longer the number one network with a number of developer activities.
The data comes in a report by Electric Capital, a venture capital firm. The article was written by Maria Shen, a partner in the firm. More than 300 developers join the ETH network each month, according to the report, and this influx means that many new developers are increasingly turning to the ETH network, as opposed to Bitcoin and other platforms.
” Second place”
First, it is noteworthy that Ethereum continued to grow and expand during the last “crypto winter”, the end of this trial period, resulting in a serious price increase for crypto. There are some who believe that the Bitcoin network is more active than any other crypto network. According to Electic capital, this theory is wrong.
The essence of the report was to evaluate the results after monitoring various blockchain-based crypto ecosystems. A developer is considered to be actively contributing to the development of a blockchain network as long as it is working on something related to the network. According to this metric, the Ethereum network is 4 times more active than the Bitcoin network. Therefore, placing Ethereum in second place after Bitcoin is misleading.
Ethereum-based DeFi getting stronger
An important factor that greatly contributes to the increased activity in the Ethereum network is the proliferation of various DeFi projects. Ethereum is home to numerous crypto projects, and many developers are setting up Defi platforms to work on the chain.
As DeFi becomes more popular, more and more people are switching to Ethereum to take advantage of the booming financial opportunities offered by DeFi. Bitcoin, on the other hand, has not been associated with DeFi at a significant level.