Active Contribution Across Solana, Bitcoin, And Ethereum Grow

It is amazing how contributors still accumulate in the Ethereum blockchain network every month. Relying on participant feedback, the network saw around 2,000 contributors last month. These contributors are responsible for pushing updates to the markup on GitHub. Icons are functions of various computer programs.

Stack in popular cryptocurrencies

The downtrend of the cryptocurrency market does not seem to affect the number of contributors accumulating in popular cryptocurrencies. Some notable examples of these digital currencies are Bitcoin, Ethereum, and Solana. Judging by the estimated average of the shareholders involved in these major projects, the annual increase is about 71.6%. This goes back to 4 years ago, January 2018 to be exact.

This information came from Research It was implemented by Telstra Ventures on Tuesday. Based on the study, the Solana project was the project with the highest increase in the number of contributors per month. According to research data, the growth rate has been around 173% since January 1, 2018.

While this applies to Solana, the number one digital currency in this category is Ethereum. Based on the information provided in the research, the annual rate of increase of monthly active contributors to ETH is around 25.9%.

Finally, Bitcoin ranks third among the listed digital currencies. Additionally, Bitcoin has a 17.1% year-over-year increase in monthly active contributors.

Telstra report on Ethereum

Telstra has also reported to the Ethereum developer community. From its data, ETH has the strongest and largest developer community as compared to other blockchains.

As of April, Ethereum had approximately 2,500 contributors per month. By the end of July, that number had decreased by 500 shareholders, keeping the number of shareholders per month at 2,000. This event appears to coincide with a major downturn in the digital market.

Furthermore, Telstra revealed its thoughts on the possible reason for the continued increase of active shareholders. The increase in contributors from its report can be attributed to the need to improve output in preparation for the expected merger. This event moves the network to the PoS (Proof of Stake) mechanism.

The Telstra report also notes a comparison of Bitcoin, Solana, and Ethereum based on monthly active contributors. From her statement, monthly ETH contributors were four times larger than Bitcoin contributors as of July.

Active contribution across Solana, Bitcoin and Ethereum is growing
Ethereum is trading sideways on the daily chart Source: ETHUSDT TradingView

At the time, Bitcoin had about 400 shareholders. Meanwhile, the number of monthly contributors to Ethereum exceeded that of SOL by nearly seven times. In the same period, Solana had only about 350 monthly contributors.

The report also indicated that shareholder growth has declined by 9% since November of last year. But, again, this has coincided with the price of the cryptocurrency market dropping from the time of its peak.

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