Active crypto developers grew 5% YoY despite market decline

Hull Invest

According to a recent cryptocurrency report, monthly active developers increased by 5% year-on-year in 2022, despite the price of cryptocurrency falling by more than 70%. Developer report From venture company Electric Capital.

The report also outlines year-over-year growth of over 8% for full-time developers. The report states:

“Full-time developer growth is the most important growth signal to track as it accounts for 76% of code commits.”

Source: Developer Report

Additionally, there were 471,000 code commits per month towards open source cryptography.

The study also revealed a 3x increase in Bitcoin monthly active developers from 372 to 946, and a 5x increase in Ethereum monthly active developers from 1,084 to 5,819. In addition, the developers of other networks such as Solana, Polkadot, Cosmos and Polygon have grown from 200 to over 1,000 he has.

Other Networks Are Rising Beyond Bitcoin and Ethereum

With 1,873 full-time developers, Ether (ETH) remains the largest crypto ecosystem. however,According to the report, 72% of monthly active developers work outside the Bitcoin and Ethereum ecosystem. Electric Capital data.

Polygon, NEAR, and Solana have all grown 40% year-over-year and have over 500 monthly active developers. Additionally, Sui, Aptos, Starknet, Mina, Osmosis, Hedera, Optimism, and Arbitrum have grown over 50% year-on-year and have over 100 active developers.

There has been a 240% increase in DeFi protocol developers since “DeFi Summer,” of which 50% are non-Ethereum developers. Additionally, since 2021, his active NFT developers have surpassed his 900, an increase of 299%.

In total, the number of cryptocurrency developers has almost doubled since Electric Capital released its first developer. August 2019 Report. The report states:

Developers build killer applications that deliver value to end users.

The company analyzed 250 million code commits for its 2022 report. This includes additions, revisions, and other changes to crypto-specific open source software. The results consider only crypto programs executed in public projects and exclude private projects of crypto companies.

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