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Chainlink Leads in Blockchain Development Activity for Two Consecutive Months

Chainlink's ability to secure strategic partnerships, such as recent collaborations with SWIFT and Google Cloud, further cements its position as a leader in blockchain innovation.


Chainlink's ability to secure strategic partnerships, such as recent collaborations with SWIFT and Google Cloud, further cements its position as a leader in blockchain innovation.
Credit: Foretoken Media 2024

For April and May, Chainlink, the decentralized oracle network built on Ethereum, recorded the highest development activity among real-world assets. According to blockchain analytics firm Santiment, Chainlink's development activity continued to lead the pack in May with an average daily activity score of 428.83, marking a significant 12% increase from April and far surpassing its nearest competitor, Synthetix.


Sustained Development Activity Reflects Chainlink’s Dominance


Santiment's methodology for measuring development activity involves analyzing GitHub data specifically related to innovation and improvements, not just routine updates. This method has consistently placed Chainlink at the forefront of blockchain development, especially in recent months. In May, Chainlink's activity rose from 383.03 in April to 428.83, underlining its robust and active development environment.


Chainlink tops the charts in development activity according to data from Santiment.
Credit: Santiment

This surge in development correlates with the LINK token's 25% price increase during May. This price movement and heightened development activity fuel positive forecasts from analysts regarding Chainlink's future performance.


Chainlink vs. Competitors: A Gap in Development


While Chainlink leads, other projects like Synthetix (SNX) and Centrifuge (CFG) trail behind, despite being among the top for real-world asset development. The gap in development activity between Chainlink and its competitors highlights the significant lead and momentum Chainlink has established in the blockchain space.


Since its inception in 2017, Chainlink has grown to become a pivotal blockchain oracle network, enabling the integration of real-world data into smart contracts. Currently, the protocol secures over $1.1 billion in crypto assets. Its success is attributed to its decentralized nature, allowing developers worldwide to contribute and verify new oracles.


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