Hedera Developer Community Remained Vibrant In Q2 2024: When Will HBAR Turn The Corner?
2024年8月21日 - 5:00PM
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Despite the challenges across the board, Hedera, a business-focused
platform, especially in Q2 2024, continues to build and enhance its
ecosystem further. According to a Q2 2024 review shared across X on
August 19, analysts noted improvements made in the last quarter,
pointing out how the platform performed relative to Q1 2024 and the
broader crypto ecosystem. Hedera Developer Community Vibrant In the
review, analysts observed that despite the general fluctuation in
user activity, the developer community continued to thrive. The
scalable ledger has over 75 full-time developers and over 190
monthly active contributors in their funding. For this reason,
Hedera is among the top 40 projects by developer count. Related
Reading: XRP Spikes 6%: Can It Overcome $0.66 For Further Upside?
This update is critical. Like every public blockchain, Hedera
requires the support of its activity, not only in spreading
awareness and capability but also in fortifying the base code,
ensuring that it functions as intended and without errors. Hedera
code is open source and has an active public GitHub repository to
ensure this is possible. Out of this, users can make code
contributions, fostering collaboration and allowing the platform to
innovate. Nonetheless, while the developer community is vibrant,
its DeFi landscape was not as robust in Q2 2024. From the report,
the platform has a total value locked (TVL) of approximately $64
million. This TVL, analysts note, is exclusive of the assets
managed by the platform’s liquidity staking solution, Stader. At
this level, Hedera lags behind competitors and is far from taking
on active networks like Ethereum and Solana, looking at DeFiLlama
data. However, reading from their asset under management, what’s
positive is that Hedera is actively trying to differentiate itself
from other platforms by focusing on emerging sectors. For instance,
the report notes that the ledger is looking to power the rapidly
growing Decentralized Physical Infrastructure Network (DePIN)
sector, and strides are being made. For instance, the review notes
that Neuron aims to pioneer data transmission and service delivery
using decentralized rails. The platform has made inroads in
Australia by deploying its first sensor, a crucial step in
increasing the number of its data-sharing nodes. Implementing
HIP-540, Will HBAR Turn The Corner? Beyond expansion in DePIN, the
platform seeks to improve its token security further by
implementing HIP-540. Once it goes live, developers can remove and
modify administrative keys. This effectively means Hedera will
boost security and trust, which is a crucial development,
especially as it builds its NFT ecosystem. Related Reading:
Dogecoin Faces Supply Squeeze: What This Means For Price HBAR, the
native token of Hedera, is struggling, sinking 66% from April
highs. Technically, sellers are in control, but there are efforts
to turn around the state of affairs. The token has support at
$0.05. Even so, if bulls push on, breaking above $0.06, prices may
rip higher, reversing holders’ fortunes. Feature image from DALLE,
chart from Canva
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