In the world of cryptocurrency, everything starts with a line of code. So cryptocurrency developers are at the heart of blockchain development. Whether they’re improving the chain’s core or creating protocols, they’re essential to proper blockchain development.
Every year, Electric Capital shares its annual report on the state of the cryptocurrency developer ecosystem. Its 2024 Developer Report delves into this ecosystem by analyzing 902 million contributions across 1.7 million code repositories. So what were the trends for cryptocurrency developers in 2024?
- 2024 saw a 7% decline in crypto developers, although established developers reached an all-time high in contributions.
- Asia overtook North America to become the region with the highest number of cryptocurrency developers, while the United States suffered a talent drain.
Developer trends in 2024
In addition to the rise of the crypto industry, the number of developers has also seen a similar growth. That is, since launchEthereum in 2015, the number of cryptocurrency developers is growing at an average of 39% per year.
However, 2024 seems to be breaking the rules. Indeed, though 39,148 new developers joined the ecosystem, the departure of other individuals created a 7% decrease in total number of cryptocurrency developers.
However, it is important to note that the ecosystem seems to be tending to stabilize. Established developers, especially those who have been around for more than 2 years, are really reaching record levels. So approximately 70% code contributions can be attributed to these developers. In other words, those who remain are the most active and experienced.
Asia: The Eldorado of Cryptocurrency Developers
Geographically, the crypto-ecosystem witnessed a major upheaval in 2024. Until now, North America has been the most welcoming region to crypto developers.
However in 2024 Asia took first place podium in terms of the developer’s share. So it counts 32% of cryptocurrency developers compared to 24% in North America.
In second place we find Europe, which has seen a slight decrease, but will not lose as many developers as across the Atlantic.
However, The United States remains the number one country with 19% global developers. And that despite a heavy failure, because they in 2015 it represented 38%.. This flight of talent from the United States could be a symptom of the regulatory pressure that has prevailed there for several years.
Ethereum: unbeatable
Since the rise of the DeFi ecosystem, our industry has turned to a multi-chain paradigm. The result is some fragmentation in the development community.
However, according to a report published by Electric Capital, developers are no longer satisfied with a single ecosystem. So, 1 in 3 developers now work on multiple blockchains. Number in an increase compared to the 10% recorded in 2015.
in any case In terms of activity, Ethereum dominates developers regardless of continent. In the second place we find Solanaalso unanimously.
Solana and Base, rising stars
Although she finished second overall, Solana is establishing itself as the number one ecosystem for new developers. Thus, the channel has seen impressive growth 83% per year.
“Solana is the first new ecosystem for developers. This is the first year since 2016 that the ecosystem has attracted more new developers than Ethereum. »
It seems that the layer-2 Base layer developed by Coinbase has become a real innovation laboratory for the entire EVM ecosystem.
“Base now has the most code innovation among the major franking machine chains. 25% of new logic code in EVM strings appeared first on Base. Before 2020, 100% of innovative new code appeared on Ethereum. »
Bitcoin developers
Obviously, the cryptocurrency queen also has its developer panel. So according to the report Bitcoin has 1,200 active monthly developers. A number that remained stable in 2024.
However, it is important to note that 42% of these developers are working on scalability solutions. For example, layer 2 solutions developing in parallel with Bitcoin, such as Rollup.
Therefore, the analysis of the developer ecosystem is in line with the trends in the chain. Solana and Base were really in the spotlight in 2024, which explains the explosion of their developer ecosystem. On the US side, regulatory pressures seem to have overwhelmed developers who have been forced to relocate. Finally, scalability continues to be orchestrated on Bitcoin, and the first major solutions could be democratized in 2025.