Solana's successful comeback!!! First surpassing Ethereum, creating history with developer growth
This year, the Solana ecosystem has witnessed unprecedented developer growth, successfully breaking Ethereum's eight-year reign as the 'developer kingdom.' According to a report by Electric Capital, in July 2023, Solana attracted more new developers than Ethereum for the first time, reaching 7,625 new developers, surpassing Ethereum's 6,456. Among them, the growth of developers in Asia is particularly significant, becoming an important driving force for Solana's development.
At the same time, Solana has surpassed Ethereum in several key metrics this year: on March 18, Solana's network activity exceeded Ethereum's during the memecoin craze; on October 28, Solana's daily network fee generation also surpassed Ethereum for the first time. This series of breakthroughs marks Solana's strong performance in the market.
Nevertheless, Ethereum still holds the overall championship for global developer activity, but its number of developers has decreased by 17% this year, dropping to 6,244. Despite this, Ethereum still has the most developers in **major regions worldwide (Asia, Europe, North America, etc.)**, and its Layer 2 (L2) network has grown by 64% since 2021, demonstrating strong ecological resilience.
Global cryptocurrency ecosystem accelerating expansion
Electric Capital also pointed out that in 2024, the growth of cryptocurrency developer activity worldwide is particularly notable, especially in Asia, Africa, and South America. Developers in Asia account for one-third of the global total, with India leading the world in attracting new crypto developers. Developers from different regions are driving the development of various crypto use cases based on time zones and local demand, making the trend of global crypto activity diversification increasingly evident.
The competition between Solana and Ethereum has intensified, with Solana becoming increasingly strong in the battle for market share, attracting more funds and developers, especially showing strong growth in areas such as stablecoins and NFTs.
In the future, as the market and technology continue to evolve, whether Solana can maintain this momentum and how the competition with Ethereum will evolve is worth our continued attention.
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