The data shows that the Internet Computer (ICP) has recently managed to break into the top five in the list of development activities. Here’s what this might mean.
Computer development activity on the Internet has increased in recent times
According to data from the on-chain analytics company saint, Hedera (HBR) also entered the top five during the same period. “Development Activity” is a measure of the total amount of work done by the developers of a cryptocurrency project on the public GitHub page of said project.
This indicator tracks this work using “events” modules, where an event corresponds to any action taken on a GitHub page, such as pushing a commit or creating an issue.
The approach to using this method to measure development activity is unique to the Santiment scale, and the benefit of it is that it provides a more accurate representation of the actual work being done by developers. For example, if the indicator simply uses the total number of commits for this purpose, a true picture may not be obtained.
The reason for this is that any commits made on a project are carried over to all of its forks (clones) as well, which means that if a developer who wasn’t in the original project builds it up, all work done there will also count under that new developer’s name even though it’s not responsibility for it. In Santiment’s development activity index, this is no longer a problem, as the entire fork action is counted as just one event.
Now, here is a table showing the top 10 rankings for cryptocurrencies based on their development activity over the past 30 days:
Looks like Ethereum (ETH) is only at the ninth place on this list | Source: Santiment on Twitter
As you can see above, the top three on this list are made up of Polkadot (DOT), Kusama (KSM), and Cardano (ADA). These three assets have been at the top for a long time, so it seems that their developers keep putting in the hard work.
There have been some changes to the list, however, with Hedera and Internet Computer being new entrants to the top five, indicating that their development activity has ramped up over the past month.
The importance of the development activity indicator is that it can provide hints as to whether a project is under development or not. If the developers of the coin show great commitment to it (by working on the GitHub page), that means there is less chance of the project being a short-term carpet-pull.
Obviously the development activity isn’t the final authority on the topic or anything like that, but still, it can be a factor to consider.
PC Internet has posted some gains recently (ICP is up more than 18% over the past month), so ramping up its development along with the uptick could be a positive sign of the long-term potential of that growth.
ICP price
At the time of writing, Internet Computer was trading around $5,859, down 2% in the past week.
Internet Computer has come down from its recent high | Source: ICPUSD on TradingView
Featured image from iStock.com, charts from TradingView.com, Santiment.net
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