Solana is reported as the fastest-growing blockchain in terms of new crypto developers, with growth that is up to double-digit in a single year.
According to the Electric Capital report on Dec. 12, Solana (SOL) is the number one blockchain for new crypto developers, with annual growth up to 83%, surpassing the largest blockchain in the world, Ethereum (ETH).
The report found that 7,625 out of 39,148 new developers this year were using Solana as their first blockchain. This number has surpassed Ethereum with 6,456 new developers and others’ blockchains with 3,383. This trend has increased every year since a few years ago.
“July 2024: Solana become the first ecosystem to onboard more developers than Ethereum since 2016,” the report says.
This emerging blockchain remains the second-largest ecosystem in every continent. In the Asia region, Solana almost flipped Ethereum, with more than 20% adoptions this year.
Ethereum, at the same time, continues to exist as the leading ecosystem with the highest number of monthly active developers in every continent. Ethereum was dominant in the Americas and Europe regions, with more than 25% adoptions every month.
Along with Base, this blockchain also records the lowest fee use case for NFTs and also owns 64% of NFT mint transactions. In DEX usage, they also captured 81% of transactions and have the highest number of unique trading wallets among the others.
You might also like: Zeus Network validates first Bitcoin transaction on Solana
Solana is the first ecosystem in India
In the report, India recorded a massive number of new developers for this ecosystem and flipped Ethereum and Base (BASE). This number shows how Asian countries are the emerging market for Solana.
India’s shares of new developers also jumped to 17% into the first, followed by the U.S. with a 3% decline. China, Canada, and Nigeria have seen growth but no significant numbers.
Ethereum remains dominant in many other major countries, including the United States, the United Kingdom, China, and Canada.
You might also like: Solana-based RWA platform AgriDex secures $4m in strategic round
