The cryptocurrency developer community experienced a period of stability in 2024, with the total number of developers worldwide remaining relatively unchanged, according to a report by Electric Capital. The total number of developers decreased by a statistically insignificant 7% from the previous year, with 23,613 monthly active developers in November.
However, the Solana ecosystem witnessed substantial growth, with an 83% increase in its developer base compared to the previous year. In fact, Solana became the first blockchain to attract more new developers than Ethereum since 2016, with 7,625 new developers joining the ecosystem in 2024.
This growth can be attributed to Solana's low fees and fast transaction times, which have attracted significant investment and talent. Meanwhile, Ethereum, despite experiencing a 17% decline in monthly developers to 6,244, remains the dominant blockchain with the largest developer ecosystem.
The report also highlights the growth of layer-2 networks on Ethereum, with 56% of Ethereum developers working on these networks. Furthermore, the Eigenlayer protocol on Ethereum saw significant developer innovation, with a 167% increase in monthly developers. The geographic distribution of developers is becoming increasingly global, with Asia emerging as the continent with the most blockchain developers, and India witnessing the largest influx of new developers.
The report suggests that the stability of the developer population is a positive sign, with established developers driving growth and innovation in the industry.