Despite a slight decline of 7%, the global cryptocurrency developer population remained stable at 23,613 monthly active developers as of November 2024. Solana's monthly developer count increased by 83%, attracting 7,625 new developers, surpassing Ethereum in growth rate.
Electric Capital's latest report reveals that the global population of crypto developers will remain relatively stable in 2024, despite the exit of some new entrants from the industry. Basically, most of these developers are veterans who have chosen to stay.
However, the total number of crypto developers actually decreased by a slight 7%, with 23,613 monthly active developers in November. It may not come as a surprise to many, but Solana (SOL) has become the most attractive blockchain for new developers in 2024, surpassing Ethereum (ETH).
Related: Bitcoin strategy puts MicroStrategy's listing on the Nasdaq index in jeopardy
That means, of the 39,148 developers who entered the crypto industry this year, 7,625 chose to build on Solana, reflecting an 83% increase in developer activity on Solana compared to last year. . It is also the first time since 2016 that the blockchain ecosystem has surpassed Ethereum in developer growth.
Asia surpasses North America in number of developers
Not so fast. Although Ethereum's monthly developer count decreased by 17% to 6,244, it remains the number one blockchain in terms of total developer base across regions including the Americas, Asia, Europe, and Africa, with Solana ranking first. It is in 2nd place.
The increased developer interest in Solana can be attributed to increased network and user activity driven in part by the popularity of meme coins, with platforms like Pump.fun facilitating the launch of this type of coin. It is considered.
An interesting finding in the Electric Capital report is that there is a shift in the geographic distribution of developers. Asia now has the most blockchain developers, surpassing North America, which fell to third place.
Despite this, the United States maintains the highest share of developers at 19%. Meanwhile, India led the way in training new developers through educational programs and hackathons, accounting for 17% of new entrants.
Additionally, the report also notes significant developer growth across other blockchain ecosystems. Aptos, Base, Internet Computer, NEAR, Polkadot, Polygon, Starknet, and Sui each gained over 1,000 new developers in 2024. Additionally, BNB, Optimism, Scroll, Stellar, and TON also added at least 500 new developers during the same period.
Related article: Billionaire executive urges investors to hold BTC, but not “too much”
Eigenlayer, Ethereum’s primary re-staking protocol, recorded significant gains, including a 167% increase in monthly developer numbers in 2024 as new services were introduced within its ecosystem.
