60% of Web3 developers joined the space in 2021

60% of Web3 developers joined the space in 2021

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 ?