CandleFocus

Developer shortage in the crypto space is where the real problem lies | Opinion

Author: Content Editor
The crypto industry is facing a shortage of developers, which is impeding its ability to achieve mass adoption. While there is a vibrant community of traders and enthusiasts, the developers who build the onchain products necessary for long-term value are rare. The crypto space currently has about 1,000 times fewer developers than traditional tech. The lack of developers hinders the creation of applications needed for mainstream adoption beyond finance. To address this shortage, initiatives like Base are creating developer-friendly environments to attract and support developers. However, challenges such as the perception of risk associated with crypto and the lack of job security still discourage many developers from entering the field. Universal builder income (UBI) is proposed as a solution to make building in crypto more attractive. UBI offers a consistent and reliable way for builders to earn income in the crypto industry, encouraging more individuals to participate. It also has the potential to attract a more diverse group of developers and foster a decentralized ecosystem. The crypto industry must support builders and experiment with different funding models to create a resilient and inclusive ecosystem that can drive mass adoption.

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