According to PANews, a report by Electric Capital reveals that Asia is set to become the primary source of global crypto developers in 2024, accounting for 32% of the total developer population worldwide. This significant share indicates that one out of every three crypto developers will hail from Asia. Meanwhile, North America's contribution has decreased from 43% in 2015 to 24% in 2024, dropping from the first to the third position. Europe ranks second in terms of developer contributions.
The shift in developer demographics highlights the growing influence of Asia in the crypto industry, as the region continues to expand its technological capabilities and infrastructure. This trend is reflective of broader global shifts in technology and innovation, with Asia increasingly becoming a hub for digital advancements. The decline in North America's share suggests a redistribution of talent and resources, as other regions, particularly Asia, invest heavily in nurturing and developing their tech ecosystems.
The Electric Capital report also notes the addition of 39,000 new developers to the crypto space, with more than half of Ethereum developers focusing on Layer 2 solutions. This influx of new talent and the emphasis on Layer 2 development underscore the dynamic nature of the crypto industry, as it evolves to address scalability and efficiency challenges. The report's findings provide valuable insights into the changing landscape of crypto development, emphasizing the importance of regional contributions and the ongoing evolution of the sector.