According to a recent study by the crypto research firm Electric Capital, between December 2020 and December 2021, it is the number of monthly active developers of Solana (SOL) which increased the most, it was multiplied by 4.9. The protocol NEAR experienced a fourfold increase, Polygon (MATIC) a multiplication by two, and Cardano (ADA) nearly doubled its monthly active developers. Ethereum however, remains by far the largest ecosystem, with 30% of developers.
Likewise, smaller ecosystems (those with fewer than 300 developers) have also experienced tremendous growth over the past year.
“Terra, ICP, Fantom and Harmony have all quadrupled the number of their developers in 2021. Avalanche and Algorand have both tripled the number of their developers, ”says the study.
The study indicates that more than 18,000 monthly active developers commit to coding in open source cryptocurrency and Web 3.0 projects and more than 34,000 new developers committed to coding last year. Of this total, more than 4,000 monthly active free software developers work on Ethereum, and around 680 on Bitcoin (BTC).
According to the study, the largest crypto and Web 3.0 developer ecosystems are Ethereum, Polkadot (DOT), Cosmos (ATOM), Solana, Bitcoin, Binance Smart Chain (BSC), NEAR, Avalanche, Tezos (XTZ), Polygon and Cardano, each with at least 250 monthly active developers.
That said, the study shows that:
Ethereum continues to have the largest ecosystem of tools, applications, and protocols, and is 2.8 times the size of the second largest ecosystem. One in five new developers entering Web3 are working on Ethereum.
Despite the record growth of developers in Web 3.0, it should be noted that the ecosystem still holds a small portion of software engineers globally.
“Fewer than 1,000 full-time developers are responsible for more than $ 100 billion in total value stuck in smart contracts,” the study said.
To obtain the results of its report, Electric Capital used approximately 500,000 code repositories and 160 million code “code commits”, which are revisions or updates to cryptocurrency projects.
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