The report shows a 100 percent increase in developers within two years

The report shows a 100 percent increase in developers within two years

According to a new report by Electric Capital, the crypto industry has experienced a significant increase in the number of developers who work on various projects. The company, which has invested in several Layer 1 platforms and crypto startups in the early stage-such as Bitwise, Gitcoin, Dydx Near Protocol and Inmunefi-found that the number of developers in the crypto industry has doubled in the past two years.

Electric Capital received its data from the identification of 250 million code commits in open source repository, which shows an exponential growth of the number of developers that have ended up in the crypto ecosystem over time. Despite the hard crypto winter 2022, the numbers did not stop growing.

The number of crypto developers has doubled since 2020

According to Electric Capital, the number of monthly active crypto developers closed in December 2022 at 23,343. This number represented an almost 100 percent increase compared to the beginning of 2020 than there were fewer than 10,000 active developers.

There are now 23,343 monthly active developers in crypto. Electric Capital

This significant growth of the number of developers who work in the crypto industry is a positive sign of the future of the industry. Despite the significant decline in the Bitcoin Prize, which broke up by more than $ 76 % of its all-time high of $ 69,000, the number of monthly developers grew by 5 %.

The report also shows an exponential growth of the monthly developer builds with over 471,000 monthly code commits for open source cryptocurrencies. These numbers correspond to an increase in full -time developers by 8%. According to the report, this is the most important data element that must be emphasized because it "contributes to 76 % of all code commits". For the first time in the history of cryptocurrencies, more than 61,000 programmers worked on the development of cryptocodes at the same time.

Bitcoin developers have tripled since 2018, but alternatives are attractive

The Bitcoin network has had a 3-fold growth of the monthly developers since 2018 and rose from 372 developers to 946, while Ethereum rose an exponential growth by 5 times and rose from 1,084 to 5,819 monthly.

Solana, Polkadot, Cosmos and Polygon have grown from less than 200 developers to more than 1,000 developers since 2018. This increase in the number of programmers who work on these projects is a positive sign of their long -term perspectives.

Despite the considerable growth of Bitcoin and Ethereum, the data showed that the vast majority (72 %) of the developers prefer to work in networks outside of Bitcoin and Ethereum. Solana, Near and Polygon grew 40 % year after year and reached more than 500 monthly developers. This indicates that there is a growing interest in alternative blockchain projects and that developers are trying to contribute to the development of newer, more innovative projects.

On the other hand, although the NFT boom seems to be letting, these projects also recorded a significant increase in their technical activity and achieved more than 900 active developers who write code every month.

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