There are now more 96 million projects and 27 million software developers on GitHub, the world’s leading code repository that was notably acquired by Microsoft (MSFT) earlier this year. With so much technological innovation stored on GitHub, it’s not surprising to hear that a major blockchain network is one of the more popular projects.
According to GitHub’s Octoverse, Ethereum (ETH) is currently the fifth fastest growing open source project on the entire platform. This analysis reviews growth trends across projects related to innovative industries, including machine learning, gaming, 3D printing and home automation.
This data should perhaps not come as a surprise, as Ethereum currently boasts the largest developer ecosystem in the industry with the backing of major institutions like ConsenSys. Unconfirmed reports also indicate that the number of developers joining the Ethereum network could be as high as in the tens of thousands per month.[Read: Ethereum and EOS See All-Time High DApp Traffic]
It is important to note, however, that GitHub is not a perfect form of monitoring project development health, as many blockchain networks work across multiple repositories that can make analysis a bit like comparing apples to oranges.
Despite the astounding developer interest, the price of ETH has been in a steady decline for most of 2018, dropping more than 50% in the last 3 months alone. Currently, ETH holds a $20.72 billion market cap, making it the 2nd largest cryptocurrency in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.
More: GitHub Octoverse
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.