EVM Blockchain Dominates as Developer Favorite, despite Overall Dip in Crypto Sphere
Summary:
The Electric Capital developer report identified Ethereum Virtual Machine-based (EVM) blockchains as the top pick for 87% of multichain developers. Although the number of active developers fell by 24% in the last quarter of 2023, seasoned developers increased by 16%. Ethereum attracted 16,700 new developers, significantly more than Polygon (MATIC) and Solana (SOL). Bitcoin saw a 19% yearly dip in development, while its layer-2 networks and scaling solutions saw a 400% surge in development since 2016. Multi-chain development also increased ten-fold since 2015.
The developer report from Electric Capital reveals that Ethereum Virtual Machine-based (EVM) blockchain networks are the top choice for developers, with a whopping 87% of all multichain developers involved in at least one EVM-compatible chain. This detailed report, published on January 17, gives a fresh perspective on crypto development activity in the past year, focusing particularly on the final quarter of 2023. Overall, there was a 24% decrease in monthly active developers across the crypto sphere, dropping from 29,611 to 22,411, during the last quarter. However, there was a growth of 16% in the number of "seasoned" developers, those who have over a year of experience in crypto, throughout 2023. Interestingly, Ethereum held the distinction of luring new developers, with a total of 16,700 “newbies” contributing code on this chain in 2023. This number is almost three times and four times higher than the 6,200 new developers on Polygon (MATIC) and Solana’s (SOL) 4,705 respectively. Bitcoin (BTC), on the other hand, saw a 19% annual drop in development activity, attracting barely more than 1,000 monthly developers. Despite a dip in Bitcoin's total developer count, more than 40% of all open-source Bitcoin developers are now concentrated on the network's layer-2 networks and scaling solutions - a surge of over 400% since January 2016. The report also discovered that crypto developers are honing their skills to navigate different chains, with a growth of 1,000% in multichain development activity since 2015. As of December 2023, 30% of all monthly active developers are involved in at least two blockchains, a number that saw a rise of around 125% since 2018.
Published At
1/18/2024 2:06:38 AM
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