This report provides comprehensive insights into cryptocurrency ecosystem development activity by analyzing over 900 million code commits and 1.7 million code repositories.
Global developer activity shift
The report shows that Asia has become the most active region for global cryptocurrency developer activity, accounting for 32% of global developer activity. This marks a significant shift in the geographical distribution of developers from the traditional strongholds of North America and Europe to Asia. Specifically, India welcomed the most new developers in 2024, accounting for 17% of the global share of new developers. Meanwhile, the share of developers from North America decreased from 43% in 2015 to 24% in 2024, reflecting the globalization trend in crypto development.
Preferences of new developers
In terms of developer preferences, Solana has become the preferred platform for new developers this year, particularly surpassing Ethereum in July 2024 as the ecosystem attracting the most new developers. Solana's success is partly attributed to its performance during the memecoin craze, providing developers with new avenues for innovation. However, Ethereum remains the blockchain with the largest number of developers, primarily due to its extensive Layer-2 network ecosystem, including Base, Optimism, and Arbitrum.
Diversity of technology and ecosystems
The report also notes an increase in the diversity of cryptocurrency developers within the ecosystem. Some developers are working on multiple blockchains, indicating a continuing trend of cross-chain development. Notably, EigenLayer became the fastest-growing developer ecosystem in 2024 with a 167% monthly growth rate, thanks to its innovative restaking protocol on Ethereum.
Stable developer community and the rise of emerging markets
Although the overall number of developers in the cryptocurrency industry decreased by 7% in 2024, the number of senior developers working in the crypto space for more than two years grew by 27%, contributing 70% of code commits. This highlights the importance of a stable and experienced developer community in the industry. Additionally, emerging markets, particularly in Asia, show strong potential in attracting new developers, suggesting that cryptocurrency development may become more diversified and global in the future.
Report link: https://www.developerreport.com/
