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- The number of crypto developers fell, but experienced developers increased.
- Experienced developers working in crypto ecosystems are at an all-time high.
- Ethereum drew in the most newcomer developers, followed by Polygon and Solana.
Cryptocurrency venture firm Electric Capital’s recently published 2023 Developer Report showed the number of developers in the cryptocurrency ecosystem has declined, but long-term commitment has grown.
The report, which tracks developers’ activity in crypto ecosystems, revealed that the total number of developers is down by 24%. However, the number of developers with over two years of experience, as well as the most active, continues to rise.
With a 52% annualized growth in the past five years, developers with over two years in crypto are at an all-time high. Furthermore, the number of developers with at least one year of experience grew 16% year-over-year (YoY) and made up 63% of all monthly active developers.
On the other hand, the count of developers with less than a year’s experience in crypto slumped. As noted in the report, the number dropped 52% YoY following a record number of developer inflow in 2022.
Meanwhile, the report showed that the number of developers supporting more than one chain has risen. In particular, 30% of developers now support more than one chain, a 10x increase from 3% in 2015. Furthermore, developers who support more than three chains also grew to an all-time high of 17% in 2023.
Regionally, 72% of developers now come from outside of North America. The drop in developers in the region follows a slump in the United States. Since 2018, the North American country has lost 14% of its developer share and now only boasts 26%.
At the same time, the number of developers in South Asia, Latin America, Eastern Europe, Western Africa, and Southern Europe grew. According to the report, these regions saw a collective increase of 20% in their developer share since 2018.
In terms of blockchain, Ethereum drew in the most newcomer developers in 2023. As noted in the report, the layer-1 blockchain saw activity from 16,747 newcomer developers. Polygon comes second with over 6,000 developers, followed by Solana.
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