Ethereum Remains the Top Choice for Developers
Ethereum continues to dominate the blockchain space as the platform of choice for developers. According to Electric Capital’s latest report, over 70% of new contract codes are deployed on the Ethereum network. This showcases its popularity and influence in the crypto industry.
Global Distribution of Developers
The report also highlights a shift in the distribution of developers worldwide. While North America has traditionally been a hub for crypto developers, there has been a significant increase in developers residing outside of this region. Regions such as Latin America and Western Africa have seen steady growth in the number of crypto devs.
Increasing Number of Multi-Chain Developers
The report reveals that multi-chain developers have experienced significant growth in recent years. From just 3% in 2015, the number of multi-chain developers has increased to 34% in 2023, indicating a growth rate of over 10 times in eight years. Developers are exploring various blockchains, including BNB Chain, Polygon, Avalanche, and several layer 2 networks, which all utilize Ethereum’s smart contract logic.
Bitcoin and Ethereum Lead Developer Engagement
A substantial portion of blockchain developers focuses on either Bitcoin or Ethereum. In December 2023, Bitcoin had over 7,800 monthly active developers, while Ethereum had more than 1,000. Although Bitcoin saw a decline in developer engagement compared to the previous year, it still remains a prominent platform for development.
Decline in Total Number of Blockchain Devs
The total number of monthly active developers in the blockchain space decreased by 24% in 2023 compared to the previous year. The decline was primarily driven by newcomers who entered during the bull market but left during the bear market. However, experienced developers with over a year of experience continue to contribute and grow in the industry.
Hot Take: Ethereum Dominance and Developer Growth
Ethereum’s continued dominance as the top blockchain for developers reaffirms its position as a leading platform in the crypto industry. With over 70% of new contract codes deployed on Ethereum, it remains the go-to choice for developers seeking to build decentralized applications. Additionally, the growth of multi-chain developers indicates a growing interest in exploring different blockchain ecosystems. While there has been an overall decline in the total number of blockchain developers, experienced individuals with more than a year of experience continue to contribute and shape the ecosystem’s future.
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