Electric Capital Developer Report: Crypto Only Has 23k Active Developers

Developer communities across the blockchain indsutry continued to grow in 2022 and pushed the building emphasis in the bear market.

Electric Capital Developer Report

The fourth annual Electric Capital Developer Report was released with an in-depth analysis of the developer community around crypto. The report analyzed over 250 million code commits and sought input from over 300 individuals.

Despite the crypto community having faced one of the most intense years on record in the industry, where prices fell an average of 70%, the developer community grew by 5%, according to the report.

Ethereum boasts the largest developer community with over 5K total developers. Many other developer communities are growing quickly past 500 devs while multichain developers keep growing as well. Bitcoin, in contrast, has around 900 active monthly developers.

A list of report highlights:

  • Monthly developers grew 5% year over year
  • Average of over 23,000 monthly developers
  • Over 100,000 developers have worked on crypto since 2021
  • Average of 471,000 monthly code commits
  • Average 3,900 monthly developers, specifically in Decentralized Finance (DeFi)
  • 61,000 new developers entered crypto in 2022

Overall the growth across 2022 was slower than the bull runs through 2020 and 2021. However, the growth was consistent with previous bear markets lending credence to the concept of cycles in the crypto market.

For a full review of the report, check out the Twitter thread from Electric Capital investment team member Maria Shen.

What is Electric Capital:

Electric Capital is a crypto asset management firm focused on technology fundamentals. The company invests in tokens that are programmable money and invest in both liquid and illiquid tokens that are emerging stores of value and rooted in novel technology. Electric Capital is started by technology entrepreneurs, engineers, and successful investors.

Where to find Electric Capital:

Website | Twitter | Medium | YouTube |

Source : bsc.news

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