Decline in Number of Crypto Developers in 2023
A recent research report from Electric Capital reveals that the overall number of monthly active crypto developers decreased by 24% in 2023. The count went from 29,611 in December 2022 to 22,411 in December 2023.
Growth in Experienced Blockchain Developers
While the overall number of developers decreased, the study highlights a steady growth in the number of blockchain developers who have been actively contributing to the space for more than one year. This subgroup has surpassed 10,000 individuals, up from less than 2,500 in January 2018.
Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!
Decline in Newcomers
However, there has been a significant decline of 52% in the count of newcomers, defined as developers with less than 12 months of experience. This trend suggests that newcomers tend to enter the crypto space during periods of significant price rallies.
Ecosystems and Developer Interest
Ethereum remains the leading platform, attracting over 16,000 newcomers who actively wrote code in 2023. Other platforms like Polygon also gained developer interest. Surprisingly, Bitcoin ranked 13th on the list.
Least Preferred Ecosystem
Stellar emerged as the least preferred ecosystem for newcomers, with only 248 developers contributing code in 2023.
The Global Picture
The U.S. experienced a decline in its standing as the number of blockchain developers located outside the country surpassed 70% in 2023. The U.S. now accounts for only 26% of blockchain developers, while regions such as South Asia and Latin America witnessed a growth in developer share since 2018.
Hot Take: Crypto Developer Count Drops in 2023
The crypto industry saw a decline in the number of developers in 2023, with a significant decrease in newcomers. However, experienced blockchain developers continue to grow in numbers. Ethereum remains the top platform for developer interest, while Stellar lags behind. The U.S. experienced a decline in its share of blockchain developers, while other regions witnessed growth. These trends indicate the evolving landscape of crypto development.
