[The developer shortage in the crypto industry is the real problem]
The cryptocurrency industry faces a potential challenge: a shortage of developers. Despite active transactions, developers who can develop on-chain products and drive long-term value are very few. For cryptocurrencies to enter the mainstream, blockchain technology needs to achieve more applications outside of finance, which is inseparable from a strong developer base.
According to a 2024 Electric Capital report, there are approximately 26,037 monthly active Web3 developers worldwide, which is a huge gap compared to approximately 27 million developers worldwide. This shows that the crypto industry lacks enough developers to build mainstream applications.
Base is a project focused on creating a developer-friendly environment. By providing tools and resources, it has attracted a large number of developers, demonstrating the importance of a rich developer ecosystem for the growth of cryptocurrency.
Reasons for the developer shortage include cryptocurrency’s “cold start problem” and perceived risk. Many people believe that the crypto industry is associated with scams and volatility, lacks job security, and struggles to attract experienced professionals. To address this challenge, the industry relies on grants and hackathons, but these methods primarily compete within a limited pool of developers.
In order to attract more builders, stable income mechanisms such as the "Universal Builder Income" (UBI) proposed by Base may be able to help drive more developers to join the chain and promote the development of excellent software.
