Crypto is code + community, and the quality of code is decisive in whether the community adopts it or not.
👨💻 👩💻 Among many people contributing to the crypto industry developers are, for us, the most important kind, and their activity can say a lot about the industry perspectives.
A recent report by a crypto VC firm Electric Capital gives a rather optimistic picture.
The firm’s analysts have compiled open-source data from nearly 500k code repositories and original code commits across the main crypto ecosystems, all while trying to eliminate machine-generated code.
The results are encouraging: a total of 18’416 monthly active developers are working on Web3 projects, with 60% joining the space in 2021 (45% for only full-time developers).
The report noted an increase in developers’ number during Web3 market value increase (price rallies), but no decrease when the prices fall 💪
Ecosystem-wise, 4011 developers (21%) are working on Ethereum, 673 (4%) on Bitcoin, while 6’791 (37%) – on other Top 200 projects. Intriguingly, over 6’941 developers (38%) – the biggest share – are working on newer ecosystems with network value below the Top 200 🤔
Whether they work on core protocols or DApps built on it, with every line of code developers make a decentralized future closer, and we thank them for their work 🙏