According To The Report, Solana, Terra, Polkadot Are Increasing Rapidly Than Ethereum
According to Electric Capital, which published its findings on the blockchain development environment in a new study on Jan. 6 stated that Ethereum rivals such as Polkadot, Solana, and Binance Smart Chain are expanding quicker in terms of development activity.
It was discovered that over 4,000 monthly active open-source developers work on the Ethereum network – far more than the 680 who work on the Bitcoin network. The total monthly active developers measured across all chains exceeded 18,400, while the number of code contributions by new developers exceeded 34K in 2021.
The data was gathered by examining about 500,000 code repositories and 160 million code commits, which are modifications or updates to the code. According to the research, the top five developer ecosystems are Ethereum, Polkadot, Cosmos, Solana, and Bitcoin.
Polkadot has roughly 1,500 developers, whereas Cosmos and Solana each have around a thousand. While Ethereum remains popular, more than 20% of new Web3 developers joined its ecosystem and competitor networks have grown faster.
NFTs Are The Future; It’s A Method For Us To Safeguard Our Legacy, says Fashion Designer Raghavendra Rathore
Designer Raghavendra Rathore has made an everlasting mark on the fashion world by becoming the “first designer to take his personal work and transform it into NFTs using unique blockchain technology.”
“Heritage and its celebration is the key differentiating factor that Raghavendra Rathore Crypto NFT’s stand for; it is a way to secure our legacy for blockchain eternity,” he mentioned IndianExpress.
Raghavendra Rathore is an Indian designer. He was one of the first fashion designers to use the “Brand India” marketing strategy for a garment line. He also performs interior design, wedding and event planning, and jewelry and accessories.
In addition, the designer has created limited edition art NFT inspired by his iconic brand on the NFT Marketplace. The NFTs, on the other hand, were designed to increase awareness for the Raghavendra Rathore Foundation (RFR), a recognised NGO.
A percentage of the sale earnings will be used to improve the lives of people in the community through mentorship programs, cultural experiences, and scholarship possibilities.
In an exclusive interview, the designer famed for his personalized designs, particularly the bandhgala, discussed his enterprise, the future of fashion, and how the pandemic has prompted a shift in how consumers connect with lifestyle items.
Ikonz Plans To Work On A Large Portion Of The Indian NFT Market
When many Bollywood and sports stars are preparing to launch their digital collectables, or non-fungible tokens (NFTs), actor-investor Rana Daggubati and Anthill Ventures founder Prasad Vanga have financed Indian-American entrepreneur Abinav Varma Kalidindi’s Indian metaverse firm; Ikonz.
Ikonz is a wealth-creation tool that will assist IP owners, artists, and other well-known symbols in managing their digital assets.
According to Kalidindi; Ikonz will serve as a 360-degree platform for IP owners, assisting them in navigating the complexity of technology and understanding the many methods of monetization and upscaling.
Last year witnessed a significant increase in trading of NFTs, which are blockchain-based digital assets. According to data tracker DappRadar; NFTs traded for more than $23 billion last year; and 2022 has already begun with at least three NFT sales for more than $5 million each.
While NFTs have yet to take off in India; Kalidindi believes the country will be the next frontier, offering a “huge opportunity.”
Stan Lee’s NFT Release, Indian Superhero Chakra Sells Out In Less Than A Minute
The limited-edition Chakraverse NFT collection drop; based on famed comic book writer Stan Lee’s creation of Indian superhero ‘Chakra The Invincible;’ has sparked a lot of interest, with buyers from 14 different nations bidding.
The first drop, on December 27, produced 6,865 unique generative art pieces based on characters and sold out in 51 seconds, followed by a second drop on December 28 with 5,400 NFT comics; which sold out even quicker in 49 seconds, making them two of the world’s fastest NFT drop sellouts.
On Stan Lee’s 99th birthday on December 28, the hashtag #StanLeeNFT trended at number three on Twitter in India.
One of the world’s leading NFT entertainment studios, Orange Comet organised the auction in partnership with BeyondLife.club powered by GuardianLink.io and Stan Lee’s POW! Entertainment, as well as Graphic India.
In 2021, Ethereum Became 140% More Beneficial Than Bitcoin
The year 2021 has gone down in history as one of the most prosperous in the history of the cryptocurrency industry. Bitcoin achieved a new all-time high of $65,000 and finished the year up by 58%. At the same time, its counter part currencies like Ethereum performed even better.
According to Ether’s quarterly returns, the asset outpaced Bitcoin every quarter of 2021; including during the second quarter’s worldwide cryptocurrency market sell-off. The first quarter of the year was Ethereum’s most successful period; with the price increasing by 102% from January to April.
The bulk of the market is unsurprised that Ethereum has outperformed other cryptocurrencies. Various forces have played in favour of the most popular altcoins throughout the year; with the NFT mania driving up gas prices, the DeFi sector garnering billions of dollars in user cash; and the network receiving continual modifications.
The launch of the EIP-1559 update should be addressed individually because the newly disclosed fee structure has completely changed the nature of the asset, rendering Ethereum deflationary in the future.
Shortly afterwards, one of the first deflationary blocks occurred on the network; bringing less ETH to the network than was destroyed.