This report outlines critical development trends in decentralized protocols and projects from January 2021 to December 2021
In this report, we analyze development activity including numbers of commits and developers for the top-fifty (50) ranked projects according to market capitalization or total value locked in 2021. In this report, we focus on core development, meaning all development that is specific to the core protocol itself and not the wider ecosystem. As an example, we focus on Ethereum and its core repositories not including repositories such as Polygon or Optimism which would classify as wider ecosystem developments.
The reason why we believe it is important to analyze core development is to ensure that there is transparency and understanding of core protocol development progress and innovation. Core decentralized protocols often serve as the foundation for many projects to build on, when teams make the crucial selection on what framework they should base their work on we believe that there should be transparency on protocol development history. Although this factor would certainly not serve as the most important factor of selection, it could be some form of guidance.
Another important reason is to provide the general public with an understanding of how a protocol is developed in an open-source environment compared to closed-source environments and hybrid models (of open- and closed developments). The Web3 industry is a relatively new field and new projects appear on a constant basis. Such that it can be difficult to navigate the space unless the individual is highly knowledgeable of it. This report can serve as one of the guiding tools to understand the space of top protocol development processes.
We feel this guide would be helpful for technical teams or individuals that are currently choosing what frameworks to build on. Further, it will be relevant for those individuals and organizations looking to establish a clear overview of the current Web3 space and its continuous developments.
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