Ethereum is undoubtedly the most renowned blockchain network among developers. However, the behemoth is facing severe competition as its peers like the Binance Smart Chain, Solana, and Polkadot are expanding quickly.
The latest report by Electric Capital, a research firm, shows that Ethereum leads the pack with almost 4,000 open-source developers every month. New developers added over 34,000 lines on the Ethereum network, beating its previous record of 18,400.
Needless to state that the numbers beat all the competitors by a huge margin. However, this is not it, as several of Ethereum’s competitors quickly catch up to it. Name names like Solana, the Binance Smart Chain, and Polkadot are among the quickest growing networks.
The report by Electric Capital states that Polkadot is currently the second-biggest blockchain ecosystem behind Ethereum. Moreover, the network is showing far greater development activity than other crypto networks.
That is why as soon as the report came out, traders searched for Polkadot predictions, assessing its movements.
Surprisingly, Solana lagged behind Polkadot despite the NFT buzz across the globe. Polkadot is currently 1-2k developers behind Ethereum as its auctions and parachains have garnered global traction recently.
Moonbeam, the first venture to win the parachain auction, recently announced to complete its second launch phase on Polkadot. Moreover, as soon as the second phase is released, Moonbeam users can use the EVM.
However, Polkadot initiated its auctions’ second round before Moonbeam’s launch. At the same time, Composable Finance is also looking to secure the seventh spot after Efnity won the sixth slot recently. The race for the spots is understandable as Polkadot keeps scoring more popularity among developers.