Issues related to the marketing and disclosure of a project significantly impact the possibility of adoption and, consequently, the appreciation of a project’s price and success in the crypto market. However, there is another fundamental characteristic, development, and technical evolution.
Monitoring and analyzing the activity of developers is an essential metric in the search for understanding the health and evolution of a project in which it is contemplated to invest, as the combination of frequent technical activity and an engaged community results in more security, strength, and more chances of survival of the proposal.
Through GitHub, which has more than 36 million users and houses more than 100 million projects, it is possible to follow this dynamic.
On the Criptomisso website, a handy tool in this process, a ranking is made available with the projects that had the most insertions of new codes in the last 12 months.
Monitoring this metric is essential to know and identify the projects with the most significant growth potential. An initiative with an adequate level of activity from developers can attribute greater credibility, authenticity, and reputation.
Projects with little community activity can signal a lack of progress or be an already consolidated and almost perfect one, which does not require more work, which is a rarity in the world of cryptography.
Remembering that the projects have different development stages, some older ones have fewer updates than the most recent ones.
These requirements can be used in the arsenal of indicators available to the investor in evaluating an investment.
A survey by Deloitte made some month ago allows some insights into the development of blockchain on the GitHub platform:
- The core code that supports Bitcoin was published in April 2009. Since then, the number of projects on GitHub related to blockchain has increased significantly, averaging more than 8,600 new projects per year. In 2016 alone, there were almost 27,000 new projects.
- The leading blockchain developers contributing to GitHub reside in North America or Europe, with San Francisco being the most significant concentration.
Also, suppose you want and are looking to stay on top of updates on everything that concerns the projects you invest or are looking to invest. It is crucial to know where the community is present to seek interaction with other members.
Most communities are actively on the big social media. In 2019, the top five, with most users, were:
- Facebook – 2.4 bi
- YouTube – 2.0 bi
- WhatsApp – 1.6 bi
- Facebook Messenger – 1.3 bi
- WeChat – 1.1 bi
Coinzilla did a survey a few months ago and found that the five communication channels most used by the crypto community are:
Twitter (92.8%), Facebook (73%), Telegram (67.9%), LinkedIn (42.1%) and Medium (41.2%)
Actively participating in the communities involved in the projects you invest in, seeking to contribute positively, is paramount in building a healthy ecosystem for the cryptocurrency market.
Disclaimer: The information contained here is for informational purposes only and educational. Nothing here should be construed as legal advice, financial or fiscal. This article’s content is the writer’s opinion, who is not a licensed financial advisor or a financial adviser registered investment. Buying cryptocurrencies poses a risk considerable. The author does not guarantee any results in particular. Past performance does not indicate future results. All information they are aimed at public awareness and is in the public domain. Information is not intended to defame any of the actors involved, but show what was said through your social media accounts. Please, take this information and do your own research.