There are more than 8,000 monthly active developers working on various cryptocurrency projects, according to the Developer Report, produced by Electric Capital, a venture firm, with some 80% of those developers starting in the last two years. But relying on such a one-dimensional metric can overlook networks that have active and vibrant developer communities in favour of those with better marketing budgets. The story of OneCoin, the giant pyramid scheme that sucked in more than $6 billion worth of investment has become a cautionary tale of what happens when a project is built on hype alone.
The current leader in terms of people actively contributing to the development of a network is Ethereum, with approximately 2,300 average monthly developers – those who were active on a monthly basis, according to the Developer Report. The number actively working on Ethereum has grown by 215% in 3 years. But there are a number of other communities also seeing strong growth. Polkadot’s developer growth. IMAGE: Electric Capital
According to the Developer Report, the project doubled its developer count in 2020, to nearly 400 active developers. When comparing the number of commits – submissions of new or amended code – by developers within the first three years of the projects, Polkadot’s community was more active than Ethereum’s at the same point in time.
If there was ever a challenger to Ethereum’s development growth in the last year, it’d probably be Polkadot. The network, created by Ethereum co-founder Gavin Wood, is designed to connect separate blockchains into one, interconnected network. Polkadot
Filecoin’s stellar developer growth. IMAGE: Electric Capital
Near, Flow, Avalanche, Uniswap, Balancer, Arweave Have More Than Tripled Their Developers Another project that has been gaining traction has been Filecoin. The decentralized storage network tripled its developer count between Q3 of 2019 and Q3 of 2020, driven in part by the project’s mainnet launch in October last year.
Near Protocol, which some have described as an “ethereum killer” is in reality, more akin to a sister network as its blockchain has a number of interoperability functions that allow it to work alongside Ethereum. Crypto’s budding developer communities. IMAGE: Electric Capital The fastest-growing projects last year were a mix of new protocols, DeFi networks, and decentralized storage projects, which have effectively tripled their developer numbers over the last 12 months.
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