Summary
Developers are leading indicators of value creation; applications developed by developers can provide value to users, killer applications attract customers, and new customers bring more developers. Since cryptocurrency is open-source, we have unprecedented ability to measure the flywheel of developer value creation in this rapidly evolving industry.
We analyzed 902 million code commits across 1.7 million repositories to create the 2024 Developer Report.
Since 2019, the community contributing to this report has grown 24 times, with 339 contributors in 2024. A total of 829 people have contributed since the report's inception.
This year, we also incorporated data from Electric Capital's three public products: StablePulse.org, NFTPulse.org, and CodeSlaw.app.
The activity of crypto developers and users is more global and cross-chain than ever before.
Developer trends
Since Ethereum's launch in 2015, the number of cryptocurrency developers has grown by 39% each year, with 39,148 new developers exploring cryptocurrency in 2024;
The total number of developers in 2024 slightly decreased, with a drop of 7%;
The number of senior developers (those with over 2 years in the crypto industry) reached an all-time high, growing by 27% and contributing 70% of code commits.
Adoption spans globally
By developer share, Asia is the leading continent, while North America fell from first to third place;
The United States has the largest share of developers, accounting for 19%, but down from 38% in 2015;
In 2024, India attracted the most new crypto developers;
Cryptocurrency activity spans all time zones, with stablecoin trading remaining active. Working hours in Asia, Europe, and Africa increased by 2-3%, NFT trading peaked during US working hours, while minting peaked during Asian working hours, indicating that different regions of the world tend to prefer different use cases.
Developers are diversifying across chains and ecosystems
1 in 3 crypto developers works across multiple chains, compared to less than 10% in 2015;
Ethereum ranks first among ecosystems by developer activity across continents;
Among Bitcoin developers, 42% are dedicated to scaling solutions;
Solana is the top ecosystem for new developers in 2024, growing by 83%;
Base accounts for 42% of new code written in the Ethereum ecosystem.
Cross-chain use cases are diversifying
Base and Solana lead in low-fee NFT use cases: Base has 97% of NFT minting volume, while Solana has 64% of NFT minting transactions;
Solana leads in DEX usage: Solana accounts for 81% of DEX transactions and has the most unique trading wallets, with Base ranking second in unique trading wallets;
LRT, as a new domain, added over $30 billion in TVL to the Ethereum mainnet, while EigenLayer invented the restaking domain. With the adoption rate of AVS developers continuously growing, the number of full-time developers has also increased by 130%;
The usage of stablecoins has reached an all-time high: the circulation of stablecoins is $196 billion, with a daily trading volume of $81 billion, and trade sizes vary across chains;
Bitcoin ETF is one of the most successful ETFs ever.
Tracking the crypto developer community is an open-source effort
Finding, tracking, and mapping these crypto repositories is a result of community collaboration, thanks to over 500 contributors who have added repositories to Crypto Ecosystems Github since 2019. If you work on open-source crypto projects, please add your repository to help the community.
Recently, Electric Capital released the 2024 Developer Report, which is good news for the ICP ecosystem.
In 2024, the ICP developer growth rate reached 75%, ranking second among all blockchains! 🎆🧵👇
ICP is the third-largest ecosystem attracting new developers in 2024, building the World Computer, with 2,155 new developers entering the ecosystem this year! 💪
When it comes to the growth of full-time developers (a very important metric), ICP is the second highest chain!
ICP is the third-largest blockchain ecosystem in Africa!
Thanks to the Electric Capital team for conducting a thorough analysis of the Web3 developer ecosystem. You can find the full report here:
developerreport.com/developer-report
#ElectricCapital #Base #solana生态 #ICP生态
IC content you care about
Technical progress | Project information | Global events
Bookmark and follow the IC Binance channel
Stay updated with the latest information