Author: Electric Capital
This report provides a comprehensive insight into the development activity in the cryptocurrency ecosystem by analyzing over 900 million code commits and 1.7 million code repositories.
Shift in Global Developer Activity
The report shows that Asia has become the most active region for cryptocurrency developers globally, accounting for 32% of global developer activity. This marks a significant shift in the geographical distribution of developers from the traditional North America and Europe towards Asia. Specifically, India saw the most new developers in 2024, accounting for 17% of global new developers. Meanwhile, the developer share of North America declined from 43% in 2015 to 24% in 2024, reflecting the globalization trend in the crypto development space.
Preferences of New Developers
In terms of developer preferences, Solana has become the platform of choice for new developers this year, surpassing Ethereum as the ecosystem attracting the most new developers in July 2024. Solana's success is partly attributed to its performance during the memecoin hype, providing developers with new avenues for innovation. However, Ethereum still has the largest developer community, primarily due to its vast Layer-2 network ecosystem, such as Base, Optimism, and Arbitrum.
Diversity in Technology and Ecosystems
The report also notes that the diversity of cryptocurrency developers within ecosystems is increasing. Some developers work across multiple blockchains, indicating a growing trend of cross-chain development. Notably, EigenLayer emerged as the fastest-growing developer ecosystem in 2024, with a 167% monthly developer growth rate, thanks to its innovations in reStaking protocols on Ethereum.
Stable Developer Community and the Rise of Emerging Markets
Although the overall number of cryptocurrency developers declined by 7% in 2024, the number of experienced developers who have been working in the crypto space for more than two years grew by 27% and contributed 70% of the code commits. This highlights the importance of a stable and experienced developer community in the industry. Furthermore, emerging markets, particularly in Asia, show strong potential in attracting new developers, suggesting that the future of cryptocurrency development may become more diverse and globalized.
Report link: https://www.developerreport.com/
This article link: https://www.hellobtc.com/kp/du/12/5596.html
Source: Developerreport
