Is Solana (SOL) abandoned by its developers?

It’s not news to the Solana (SOL) investor that the altcoin’s capitalization was one of the hardest hit by the collapse of FTX and Alameda Research. But are developers fleeing the crypto-currency as well?

A large amount of capital has left Ethereum’s competitor (ETH), pushing it out of the top 10, and it even came in with a smaller capitalization than Shiba Inu (SHIB).

Sam Bankman-Fried (SBF), who is a big supporter of Solana, has managed to have an even more negative impact on altcoin than the network outages the crypto-currency has experienced over the past two years.

Solana is known to be the big star of non-fungible tokens (NFT). After all, it has one of the largest markets in this area, just behind Ethereum. Moreover, in the world of NFTs, the altcoins market remains one of the most recognized.

Magic Eden, Solana’s marketplace for non-fungible tokens, is fourth in terms of trading volume according to DappRadar data. In other words, despite the negative price movement in recent days, after ETH, the largest blockchain for NFTs is still Solana’s.

Developers have been another major support that the SOL network has always maintained. Shortly after the altcoin crash, they remained active, and now it remains to be seen if, just over a month after FTX filed for bankruptcy, they are still around.

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Is Solana development dying?

According to information from data aggregator Terminal Token, active developers of Solana’s software have declined by more than 90 percent in 2022.

It is a fact that this percentage has attracted a lot of attention as it represents the departure of 2,425 developers from the network of the smart contract platform. In addition, it also demonstrates that the network would have ceased to be attractive even before the collapse of FTX.

However, there is a problem in the Terminal Token analysis that has been pointed out by the Solana community.

In order to capture development data, the platform only takes into account direct individual contributions to the Solana central software repository. Therefore, the development of other software not belonging to the Solana foundation is not taken into account.

For this reason, the Solana community has decided to refute the information submitted.

Tuan Pham Minh, a software engineer at Kyber Network, said that the data provided by Terminal Token is from a dubious and biased source. Developer Jac0xb made an even stronger statement, saying that the numbers he got from the analysis were completely wrong.

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What is the truth?

According to research and security company sec3, in early November, Solana was one of the fastest growing altcoins.

Considering the unique number of developers, 25,000 have written, deployed and verified programs on the crypto-currency.

Already in early December, the situation was not the best for the development of the SOL network. Indeed, Finbold data revealed that the crypto-currency ranked only ninth in development activity on GitHub.

The lead was in the hands of Cardano (ADA), Cosmos (ATOM), and Polkadot (DOT), which held the first, second, and third place, respectively.

Although the situation is not at all pleasant for one of the most important Ethereum killers, Solana is still in the game and fighting to stay out of the crypto-currency graveyard.

The presence of developers on its network is a big driver for this not to happen and for SOL to become the big star it was in 2021; Solana has been one of the best blockchain ecosystems by monthly developer growth.

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