The sixth annual developer report published by Electric Capital reveals the latest trends and developments in the cryptocurrency industry through an analysis of a record 902 million code submissions and 1.7 million code repositories. This article is based on a tweet by Maria from Electric Capital, organized, translated, and written by Foresight News. (Background: Ethereum Devcon Bangkok conference shock, developers encounter 'knife robbery' targeting crypto individuals?) (Background information: TONX API partners with 20 major ecosystem giants! Co-building the TON developer ecosystem with Blum, Catizen, CoinGecko, and Google Cloud) The sixth annual Electric Capital developer report has seen contributions from a total of 829 participants since its inception. We analyzed a record 902 million code submissions covering 1.7 million code repositories. How is the cryptocurrency industry data performing in 2024? Key summary: · The cryptocurrency industry has a global nature, with developer momentum shifting from North America to other regions. · Developers and use cases are showing diverse development across different ecosystems. · Applications span all time zones, demonstrating widespread usage globally. We have underestimated the number of developers in the cryptocurrency field because our statistical data only focuses on open-source development activities. Our methodology includes: · Merging developer data into a single standardized identity. · Identifying and excluding bot accounts. · Removing code repositories that do not reflect development activities, such as data lists. Since the launch of Ethereum in 2015, the cryptocurrency industry has grown at an average annual rate of 39%. In 2015, there were about 1,000 active developers per month. Today: the number of monthly active developers has grown to 23,613. In the past year, the number of monthly active developers slightly decreased by 7%. However, the number of developers engaged in the cryptocurrency industry for over two years has increased by 27%. These experienced developers drive the industry's growth, contributing 70% of the code submission volume. What changes have occurred in the cryptocurrency industry since 2015? Let’s take a look at the global diversity of cryptocurrency developers. The focus of developer distribution has shifted from the U.S. and Europe, which accounted for 82%, to other parts of the world. Asia is now the continent with the highest proportion of developers, with one in three cryptocurrency developers residing in Asia. Europe ranks second. Since 2015, North America has dropped from first to third place. We can identify the top ecosystems in these continents by the proportion of developers. Calculated by developer proportion, Ethereum ranks as the top ecosystem in every major continental sector. · Solana ranks second. · Polygon ranks third in Asia and South America. · Polkadot ranks third in Europe. · Base ranks third in North America. · Dfinity ranks third in Africa. The United States, India, the United Kingdom, China, and Canada hold the largest share among global cryptocurrency developers. The United States remains the country with the highest proportion of cryptocurrency developers, but has been steadily declining since 2015. India has risen from 10th to 2nd place. The top three ecosystems by developer proportion in countries are: · Ethereum ranks first in the United States, the United Kingdom, China, and Canada, and second in India. · Solana ranks first in India and second elsewhere. · Base ranks third in the United States and India. · Polygon ranks third in the United Kingdom. · NEAR Protocol ranks third in Canada. · Polkadot ranks third in China. India welcomed the most new cryptocurrency developers in 2024. 17% of new cryptocurrency developers came from India. Let’s focus on new developers—there were 39,148 new developers exploring the cryptocurrency field in 2024. We can break down these new developers by ecosystem. Solana became the ecosystem with the highest number of new developers joining in July 2024. Overall status of new developers in 2024: Solana has the most new developers, ranking first. Ethereum ranks second. Dfinity, Aptos, Base, Bitcoin, Sui Network, NEAR Protocol, Polkadot, Polygon, and Starknet all saw over 1,000 new developers join. Arbitrum, BNB Chain, Optimism, Stellar Org, and TON Blockchain each had over 500 new developers join. Who is experiencing the fastest growth in total developer numbers? The total number of developers reflects the interest of new developers and hackathon participants. Based on data from Q3 2023 and Q4 2024, the top ten ecosystems with the fastest growth in total developer numbers are: Who is experiencing the fastest growth in full-time developer numbers? Full-time developers submit code for more than 10 days a month, contributing stable work to the ecosystem. According to data from Q3 2023 and Q4 2024, the top ten ecosystems with the fastest growth in full-time developers are: Many developers are active on multiple chains—now, one in three cryptocurrency developers works across multiple chains, and this trend is continuously increasing. The monthly active multi-chain developers have risen from less than 10% in 2015 to 34% in 2024. The chains with the most multi-chain developers share developer resources with Ethereum. EVM chains share the most developers and have significant network effects: 74% of multi-chain developers work on EVM chains. Since 2021, the proportion of EVM cross-chain deployers has increased fourfold. Base is the most popular chain for EVM multi-chain deployers in 2024, but Base deployers tend to stay on the Base chain. Since deployers publish code to multiple chains, where is most original code written? Before 2020, nearly all original on-chain code logic on EVM was on Ethereum. Now, no EVM chain has an original code innovation proportion exceeding 30%. Base now occupies 25% of the original on-chain code logic on all EVM chains, the highest among all major EVM chains. This is how the Ethereum ecosystem maintains its lead in code innovation—through L2 chains. 65% of innovation occurs on the mainnet and ETH L2 chains. The Ethereum ecosystem demonstrates strong network effects through its dominance in EVM and multi-chain developers. How is the performance of this ecosystem? Ethereum has 6,244 monthly active developers, a 17% decrease from the same period last year. Most of the losses come from developers who joined after 2021. Among the developers already working on Ethereum, those with over two years of experience have grown by 21%. Now, over half of Ethereum developers work on Ethereum L2 chains, up from 25% in 2022. Ethereum L2 chains have experienced significant growth in developers over the past four years. The total number of monthly active developers on Ethereum L2 chains is 3,592, since Arbitrum was launched in 2021, ...

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