The Growth of Established Developers
A recent study by Electric Capital reveals that the number of active crypto developers with 2+ years of experience has grown at a rate of 52% annually over the past five years. This growth is significant, considering the overall decrease in the number of active developers.
Contribution of Experienced Developers
The study also highlights the contributions of experienced developers, who account for 63% of all monthly active developers. These developers create 75% of the code in the crypto industry and commit to projects more consistently than newcomers. In fact, established developers and emerging developers together make three times more code commits than newcomers.
Fluctuations in Developer Numbers
The fluctuating number of developers can be attributed to the influx of newcomers drawn by the rise of crypto asset prices. Around 6,500 newcomers joined the crypto industry every month in 2022 after the network’s value reached a historical high. This trend has led to a decrease in the number of developers who have worked on crypto projects for less than a year.
Geographical Distribution of Developers
The report also reveals changes in the geographical distribution of developers. The United States has lost 14% of its developer share since 2018, and currently, only 26% of crypto developers are based there. On the other hand, regions like South Asia, Latin America, Eastern Europe, Western Africa, and Southern Europe have seen significant growth in their developer share, increasing by more than 20% since 2018.
Hot Take: The Continuous Growth of Experienced Developers
Over the past five years, the crypto industry has witnessed substantial growth in the number of experienced developers. Despite the overall decrease in active developers, the number of established developers has grown at an annualized rate of 52%. These experienced developers play a crucial role in the industry, contributing 75% of the code and making three times more code commits than newcomers. As the industry continues to evolve, the contributions of experienced developers will likely have a lasting impact on its progress and innovation.
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