Solana has grown 83% since last year, making it the number one ecosystem for new developers by 2024.
According to a new developer report published by Electric Capital, Solana has managed to attract more developers than Ethereum for the first time since 2016. Specifically, in July, Solana hosted more developers than Ethereum.
According to the report published on Thursday, of the 39,148 total new developers in 2024, 7,625 will choose Solana as their first blockchain, while 6,456 will choose Ethereum. Solana’s low transaction fees and fast transaction confirmation times have attracted new investment and developer talent. Ethereum has long been the leader for blockchain applications as a layer 1 network. However, Solana’s increasing blockchain activity and the rapid price appreciation of its SOL token have started to attract more developers.
According to the report, one-third of developers work on more than one chain. This rate increased from 10% in 2015 to 34% in 2024. Among these developments, Base stands out as the most popular chain.
Ethereum Remains Leading in Total Number of Developers
Although the number of developers on the Solana network has increased this year, Ethereum still maintains its leadership as the largest ecosystem in terms of total developer activity. The Ethereum blockchain is leading in 5 countries, including the US, UK, Canada, and China. However, in India, which will be the second largest developer by 2024, Solana stands out as the preferred blockchain, followed by Ethereum.
“Ethereum leads the world in the number of developers, and the network’s strong impact is supported by data,” Shen said.
Data also shows that India is set to experience the largest increase in new crypto developers in 2023, surpassing the United States.