A relatively new Ethereum (ETH) layer-2 scaling solution has soared to the top of Santiment’s rankings of ERC-20 coins in terms of recent development activity.
The crypto analytics firm notes that Starknet (STRK) clocked 401.97 notable GitHub events over the past 30 days.
Starknet is a decentralized validity rollup, otherwise known as a zero-knowledge (ZK) roll-up. Rollups are solutions that execute transactions outside of Ethereum’s blockchain but record the transactional data. The project launched its token last February.
STRK is trading at $0.455 at time of writing. The 119th-ranked crypto asset by market cap is up more than 7% in the past 24 hours.
Starknet surged past last month’s most-developed project, the decentralized oracle network Chainlink (LINK), which registered 311.57 notable GitHub events. Ethereum itself was third, with 219.13 events.
An ERC-20 project is a standard that developers use to issue tokens on the Ethereum blockchain.
Santiment notes that it doesn’t count routine updates and utilizes a “better methodology” to collect data for GitHub events based on a “backtested process.”
The analytics firm has previously said that heavy development activity centered around a crypto project indicates developers believe in the protocol. Development activity also suggests a given project is less likely to be an exit scam.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Follow us on X, Facebook and Telegram
Generated Image: Midjourney
Read the full article here