Solana has taken the top spot for new developers in 2024, according to Electric Capital’s Developer Report. This marks the first time since 2016 that any ecosystem has surpassed Ethereum in attracting new talent. Over 7,625 new developers joined the Solana ecosystem this year.
As emphasized by Electric Capital, crypto is all about the developers: They are the reason for innovation; they are the ones that build applications that create value for users. Successful applications attract users, and users attract more developers. That’s the self-reinforcing cycle that powers growth in crypto, which is open-source collaboration.
Crypto developers are more global than ever. Today, Asia is the leading continent in terms of developer share, and North America ranks third.
This year, India has the most new crypto developers onboarded. Even though the U.S. remains the top country in terms of developer share at 19%, that number has declined since 2015.
Development activities today span all time zones, reflecting a variety of use cases worldwide. Stablecoin transactions keep happening consistently across regions. While NFT minting peaks during Asian working hours and trades during American working hours.
Although total developer numbers were down 7% in 2024, the number of established developers, or those with over two years in crypto, reached new highs. Today, experienced contributors are responsible for 70% of all code commits.
Solana topped the charts with an 83% growth in new developers, while Ethereum remains the leading blockchain in total developer activity worldwide.
Solana and Base lead in NFTs and DEX usage
The report also highlights diversification trends. One in three crypto developers now works on multiple chains, compared to less than 10% in 2015. Solana dominates DEX usage with 81% of transactions, while Base captures 97% of NFT minting volume. Bitcoin developers remain steady, with 42% focusing on scaling solutions.
However, the rise of Solana, coupled with innovative use cases across the ecosystems, reflects a dynamic shift in the growth trajectory of crypto. It’s a path lit by developers to a global and multi-chain future, with Solana so far serving as the epicenter for this new talent.
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