CandleFocus Solana Was the Biggest Draw for New Crypto Developers in 2024: Electric Capital
2024-12-12
Author: Content Editor
According to a report by Electric Capital, the number of cryptocurrency developers remained steady in 2024, with a minimal 7% decline compared to the previous year. The Solana ecosystem experienced an 83% increase in developers, surpassing Ethereum in attracting new talent. While Solana's growth poses a challenge to Ethereum, the latter still dominates the industry with its deep network effects and the largest developer ecosystem. The report also highlighted the growth of Ethereum's layer-2 networks, with over half of Ethereum developers working on these solutions. Additionally, the study revealed that Asia has overtaken North America as the continent with the highest number of blockchain developers, and India brought on more new crypto developers than any other country. The geographic diversification of developers was seen as a positive trend for the industry.
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