Developer activity, it’s worth noting, is measured according to a project’s public GitHub repository, with GitHub being a code hosting platform for collaboration.
In its report, Santiment noted that developer activity has “little to no impact on short-term market trends,” but sees it as “quite an underrated indicator of project success, as it demonstrates the team’s month-to-month commitment to creating a working product, polishing and upgrading its features, and staying true to the long-term roadmap.”
The firm clarified that while it tracks development data form thousands of public GitHub repositories it excludes specific non-development events like releases being downloaded, comments on commits, and people following issues.
Alone, the discussion around libra this year just got people thinking about cryptocurrencies.”
It will be very interesting to see how Libra’s launch and adoption will unfold. With the current level of scrutiny from government authorities, Libra has a tough road ahead.
But if the currency manages to launch with the approval of regulators, then the cryptocurrency might go mainstream, and set the standard for other companies that might want to follow this model.
Ethereum PoS Transition
One of the most expected crypto developments of this year will be the start of Ethereum’s transitioning process from PoW to PoS.
Ethereum 2.0 is planned to be Ethereum’s final network upgrade and is designed to change the current Proof-of-Work consensus algorithm to Proof-of-Stake.
If you want to get one of the burgeoning jobs as a developer at a crypto trading firm or exchange, there are two languages you need to know.
One is Solidity. The other is Rust. Developers in either are in short supply.
Rob Lycett, a London-based recruiter who places software engineers in crypto firms, said the shortage of Solidity developers in particular is “frustrating.” An object oriented language used to program contracts on the Ethereum blockchain, Solidity has taken off as use of Ethereum grows.
Lycett says demand has been huge in the second half of 2021, but that Solidity developers are “very hard to find,” and that clients are “desperate.”
Unlike Solidity, Rust is not crypto specific. It’s relatively under-used in major banks but is hyper-popular in crypto trading firms.
It was the first little door we could open to match the demand that exists right now.”
Bigger problems with carbon credits
Toucan’s efforts exposed some of the baseline flaws of the carbon market: the lack of a single standard of quality, and the likelihood that many sub-optimal projects end up being valued even if they aren’t helping the environment. In 2020, Greenpeace even went as far as calling the entire system “a distraction from the real solutions to climate change,” like actually reducing the emissions from fossil-fuel energy generation.
Gough, at Sylvera, says it’s extremely difficult to establish a simple set of criteria for valuating carbon-offset projects because of all of the different factors in play.
ADA / USD price pair, and the project is considered to be the first blockchain platform to be developed from scientific philosophy and a research-based methodology.
Cardano’s transactions are currently validated by a federated system of validators, which consists of three organizations: the Cardano Foundation, Input Out Hong Kong (IOHK), and Emurgo.
Charles Hoskinson, CEO IOHK, stated that the public network is expected to have 100 times more people using its software than Bitcoin or any other PoW system.
“This marks the starting point for handing the [Cardano] protocol completely to the community,” Hoskinson said of next year’s network upgrade, dubbed “Shelley.”
These have been some of the most expected crypto developments in 2020.
These are excluded as their inclusion could see some projects “show inflated development activity just by discussing what they are going to build without actually building it.”
The firm also tracked active contributors to projects’ GitHub repositories. It found that Cardano led the pack with an average of 53 daily contributors throughout 2021, and was followed by Kusama, Polkadot, Ethereum, and Solana.
The Trust Wallet Token and Filecoin made it to the top 20 in daily contributors, it’s worth noting.
The three main organizations supporting Cardano, it’s worth noting, are the Cardano Foundation, IOHK, and Emurgo.
With the release of v0.10.0 we are now entering back into a smooth rhythm.”
Least Authority has started a security audit to verify the code, and have expressed their enthusiasm for working with the project:
“We have high expectations and are enthusiastic to be working with a team of such caliber!”
The upgrade is expected to greatly impact the scalability and transaction speed of Ethereum, which is why this is one of the most important crypto developments in 2020.
Cardano PoS Update
As we are on the subject of crypto developments involving PoS changes, Cardano, another top crypto project, is preparing to release a new PoS system.
To be truly clever, we must rise above this natural reaction, and embrace the positives regulation brings – because rule makers are not necessarily against financial development. By and large, they realize that this is a genie that cannot be put back in the bottle, and can only be tamed and made into a friend.
Both at the EU and at the national level, European regulators have expressed support for blockchain technology and its potential for digital transformation in the finance sector.
The defined aim of this regulation is to create an investment- and growth-oriented regulatory framework.
And here is where governments and crypto pioneers agree, growth can only benefit us all.
Ethereum has undergone many updates and changes since its apparition in 2016, with new technologies having been implemented to grow its developer community.
With the release of Ethereum 2.0 v0.10.0, the blockchain has seen the addition of new specifications. Ryan explained that “v0.10.0 is the culmination of the changes introduced to the Phase 0 specification”. He continued to relate that the v0.10.0 release is a very stable software, which is now available for client test networks and third-party audits and security assessments:
“For some time, these new spec changes disrupted the smooth development cycle of the eth2 client teams and postponed the release of testnets that were imminent.
Now, they are subject to an imposed framework and huge fines if they fail to abide by regulations. If tech companies had worked more responsibly with customers’ data and regulators, the restraints imposed could have been much lighter.
This is because, left alone, regulators err on the side of removing freedom.
Working with regulators is the key to preserving freedom. Freedom is effectively choice. Previously, companies could choose what to do with data. Now, that choice has been removed.
Dialogue with regulators is the way to preserve this choice. If we want our industry to progress, there is only one way forward – we should help governments to shape regulation.
Hiding from this fact is childish and irresponsible towards employees, partners, and consumers alike.
Cheaper credits are often attached to projects that the market has determined are of dubious environmental value, like Chinese hydropower dams.) The idea was to take all of the bad credits out of commission, so that only the better and more expensive ones remained. And crypto traders eagerly jumped in: in Toucan’s first six months, more than a quarter of all carbon credits bought on Verra were done so via Toucan and transferred on-chain.
But there was one problem: most of these bad credits hadn’t been in circulation for years, because established carbon credit buyers already understood their lack of worth. Because of their age, many of these credits weren’t even eligible to be sold on some established trading markets. So instead, KlimaDAO’s tokens created fake value for worthless carbon-credits, worsening the situation.