A new report suggests that developers who previously worked on first-tier blockchains are increasingly abandoning their projects and migrating to the defy domain. These developers were mostly working on the IAS and Theron projects.
To Report Coin Telegraph, software engineers and developers are gradually shifting their focus from first-tier blockchains, once known as “Ethereum killers,” to decentralized finance protocols (DeFi). This report cites the growing growth of this field as the cause of this event.
A report entitled “Blockchain Development Trends” published by Outlier Ventures Investors shows that developers are shifting their focus from Ethereum’s competitors.
The report’s findings confirm that Ethereum has been China’s most developed blockchain protocol for the past 12 months, with Cardano and Bitcoin next in line. In fourth place is the decentralized file storage project Filecoin, which is in its first year of operation.
According to the report, while some new platforms such as Polkadot, Cosmos and Avalanche are seeing the growth of developer activity, many of Ethereum’s traditional competitors are declining in terms of core development.
The Ethereum, Tron, EOS, Komodo, and Qtum killers are seeing declining benchmark development criteria.
The report also noted that Ethereum-based Defy platforms stormed the space in 2020 and saw growth in developer activity; Aave and Balancer had the highest growth.
Apart from these two, the most active projects are Maker, Gnosis and Synthetix. Also, the two newly launched Defy protocols were highly developed in terms of developer activity.
Launched in 2020, SushiSwap and Yearn Finance grew rapidly into development activity and the size of most other Defy protocols and beyond.
At the peak of Difai’s growth in mid-2020, Santiment research showed that Maker, Synthetics, Band Protocol, and Augur were Difai’s top platforms in terms of development activity.
Defy was not the only part that grew. NFT tokens and Metaverse projects such as virtual worlds, valuables, games, and encrypted arts have also seen growth in the market as a whole.
The Outlier Ventures report also found that Decentraland’s development activity was at a similar level to major Blockchain technologies such as Stellar and Algorand, and even more so than some of the most well-known Diffie protocols such as UniSwap and Compound.
To generate this data, the researchers analyzed the Github repositories, which are the place where developers send code updates, upgrades, and protocols.
Nevertheless, Ethereum is still generally in the lead. Ethereum’s development activity is 14% higher than that of its closest competitor, Cardano, and almost double that of Bitcoin in terms of committees.