New Ethereum Layer-2 Scaler Soars to Top of Santiment’s Rankings of ERC-20 Coins by Development Activity

A relatively new Ethereum (ETH) layer-2 scaling solution has soared to the top of Santiment’s rankings of ERC-20 coins in terms of recent development activity.

The crypto analytics firm notes that Starknet (STRK) clocked 401.97 notable GitHub events over the past 30 days.

Starknet is a decentralized validity rollup, otherwise known as a zero-knowledge (ZK) roll-up. Rollups are solutions that execute transactions outside of Ethereum’s blockchain but record the transactional data. The project launched its token last February.

STRK is trading at $0.455 at time of writing. The 119th-ranked crypto asset by market cap is up more than 7% in the past 24 hours.

Starknet surged past last month’s most-developed project, the decentralized oracle network Chainlink (LINK), which registered 311.57 notable GitHub events. Ethereum itself was third, with 219.13 events.

An ERC-20 project is a standard that developers use to issue tokens on the Ethereum blockchain.

Santiment notes that it doesn’t count routine updates and utilizes a “better methodology” to collect data for GitHub events based on a “backtested process.”

The analytics firm has previously said that heavy development activity centered around a crypto project indicates developers believe in the protocol. Development activity also suggests a given project is less likely to be an exit scam.

 

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