In these days when #BTC , #ETH and other altcoins ( #XRP $SUI $DOGE $PEPE #sol ) are trying to recover, I would like to take you away for a bit and talk about ElectricCapital's 6th annual developer report.
Developers shaping the evolution of the blockchain ecosystem have made remarkable progress in 2024. Electric Capital’s 6th Annual Developer Report provides an in-depth analysis of open source development activities, revealing how the crypto developer ecosystem is evolving globally. Analysis of 902 million code commits and 1.7 million repositories reveals the increasing diversity of developers and geographical shifts.
This year’s star is no surprise: @Polygon (Matic). #PolygonHub
Polygon’s Place in the Electric Capital Report
Polygon has been at the forefront of blockchain innovation by leading its developer activities. According to the report, Polygon achieved significant success in Asia and South America:
1. Polygon in Top 3 in Asia and South America (1 by Dev Share in Asia)
Polygon achieved remarkable leadership in Asia and South America in strengthening its developer ecosystem.
• No. 1 in Asia: According to Electric Capital, Polygon leads the developer share in Asia. This is a result of Polygon having the largest developer pool in the blockchain ecosystem in Asia, as well as having a strong developer community in the region. India is one of the countries that has contributed significantly to this growth.
• A Major Player in South America: The expansion of its developer activities in South America shows how well Polygon is evaluating the potential in this region.
2. Polygon Added +1000 Developers This Year
The Polygon ecosystem has made great progress by adding more than 1000 new developers to its platform in 2024. This increase is a result of Polygon’s developer-friendly structure and technical innovations.
3. Developers Are Multi-Chain (Coming Soon)
A prominent trend in 2024 is the focus of blockchain developers on multi-chain projects. Polygon offers developers a multi-chain infrastructure that allows projects to run on multiple blockchain networks.
4. Polygon Ranks in Top 3 for Innovation
Polygon has managed to rank among the top 3 for blockchain innovation in 2024. This demonstrates Polygon’s vision to continuously develop Layer-2 solutions and new technologies. It achieves this with the following features:
• Zero-Knowledge Proofs (ZK Proofs)
• Efficiency and Speed
• Ecosystem Innovations
This achievement is a testament to the success of Polygon’s executives and developer community in the mass adoption of blockchain technology. Sandeep Nailwal and his team are driving this growth with their vision to perfect Layer-2 solutions.
Global Distribution of Crypto Developers
According to the report, developer activity is spreading globally. Since 2015, the crypto developer ecosystem has grown by an average of 39% annually. As of today, there are 23,613 monthly active developers working on blockchain technology.
Asia is #1 in developer share: 33% of crypto developers live in Asia.
• Europe ranks 2nd, North America drops to 3rd: The decline in North America's developer share is striking.
The countries with the largest developer share are: USA, India, UK, China and Canada.
Leadership by Ecosystem
Ethereum continues to be the number one ecosystem in terms of developer share worldwide. While Solana stands out with its number one place in India, Polygon stands out with its success in Asia and South America.
Polygon's success in this process was achieved thanks to its multi-chain structure, developer-friendly platform and the effectiveness of Layer-2 solutions. The platform contributes to the global spread of blockchain technology, especially with its leadership in the Asian market.
Conclusion
Electric Capital's 2024 Developer Report shows that the blockchain developer ecosystem is becoming strong and global. Polygon has proven to be a significant player in this ecosystem with its emergence in Asia and South America. Developer activities in the blockchain world will continue to be one of the most critical elements shaping the future of technology. Thanks to its continuous innovation and support to the developer community, Polygon will be one of the locomotives of blockchain technology in the future.