Recently, Electric Capital released its annual developer report, revealing the latest trends and movements in the cryptocurrency development field.

Author: Electric Capital

This report provides a comprehensive insight into the development activities within the cryptocurrency ecosystem by analyzing over 900 million code submissions and 1.7 million code repositories.

Shift in Global Developer Activity

The report shows that Asia has become the most active region for cryptocurrency developer activity, accounting for 32% of global developer activity. This marks a significant shift in the geographical distribution of developers from traditional North America and Europe to Asia. Specifically, India welcomed the most new developers in 2024, representing 17% of the global new developer share. Meanwhile, the share of developers in North America has decreased from 43% in 2015 to 24% in 2024, reflecting the globalization trend in the crypto development field.

Preferences of New Developers

In terms of developer preferences, Solana has become the preferred platform for new developers this year, particularly surpassing Ethereum in July 2024 to become the ecosystem attracting the most new developers. Solana's success is partly attributed to its performance during the memecoin craze, providing new innovative space for developers. However, Ethereum remains the blockchain with the highest number of developers, mainly due to its large Layer-2 network ecosystem, including Base, Optimism, and Arbitrum.

Diversity of Technology and Ecosystems

The report also points out an increase in the diversity of cryptocurrency developers within the ecosystem. Some developers are working across multiple blockchains, indicating a continuing trend of cross-chain development. Notably, EigenLayer became the fastest-growing developer ecosystem in 2024 with a 167% monthly developer growth rate, thanks to its innovation in the restaking protocol on Ethereum.

Stable Developer Community and the Rise of Emerging Markets

Although the overall number of developers in the cryptocurrency industry decreased by 7% in 2024, the number of experienced developers who have worked in the crypto field for over two years grew by 27%, contributing to 70% of code submissions. This highlights the importance of a stable and experienced developer community within the industry. Additionally, emerging markets, particularly in Asia, show strong potential in attracting new developers, suggesting that the future of cryptocurrency development may become more diverse and globalized.

Report link: https://www.developerreport.com/

Article link: https://www.hellobtc.com/kp/du/12/5596.html

Source: Developerreport

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