One often criticized method for comparing cryptocurrency projects is through GitHub commits—the number of times new code is added to a repository. One venture capital firm analyzed over 3,000 different blockchain projects, in-depth, to identify other development metrics to better evaluate technical progress. And, the firm’s analysis provided some interesting insights on Ethereum (ETH), Bitcoin (BTC), Litecoin (LTC), Dogecoin (DOGE), and on the developer ecosystem overall.
Electric Capital is a crypto venture fund based out of Palo Alto, California, that performs programmatic due diligence. The fund claims to “compile code, do security audits, run nodes to programmatically inspect the blockchain,” and use other methods to gain intelligence on projects.
On Mar. 6th Electric Capital released a report that examined the codebases of 3,000 different blockchain projects. According to the fund, its analysts indexed 21,000 code repositories, “de-duplicated” (factored-out) 16 million code commits to identify original code authors, and analyzed 130,000 developer profiles.