The number of total monthly active developers across all the different blockchain ecosystems in crypto hit a record high of more than 18,000 recently, according to a research paper conducted by Electric Capital, and, although Ethereum is still well ahead in this department, several rival networks are catching up with a faster rate of growth. According to a report by Cointelegraph.com, Ethereum competitors including Polkadot, Solana and Binance Smart Chain (BSC) are growing faster in terms of development activity according to the research report released on Thursday, which revealed that over 4,000 monthly active open-source developers work on Ethereum, a figure considerably larger than the 680 who work on the Bitcoin network.
The way the news outlet explains it, total monthly active developers across all chains was more than 18,400, while 2021 marked a new record in terms of the number of code commits, over 34,00 in total, by new developers. The measurements were derived by analyzing about 500,000 code repositories and 160 million code commits, the latter meaning changes or updates to the code, as highlighted by the news outlet, while the report indicates that Ethereum, Polkadot, Cosmos, Solana and Bitcoin are the five largest developer ecosystems overall. From those networks, Polkadot currently has around 1,500 developers in total, while Cosmos and Solana have around 1,000 each, the news outlet notes, while other active ecosystems in terms of monthly developers were, Near, which launched an $800-million developer fund in October, Tezos, Polygon and Cardano, with each having over 25 active monthly developers.
With that being said, the report highlights that Ethereum is still the dominant ecosystem given that more than 20% of new developers joined its ecosystem, albeit rival networks have seen greater growth, as mentioned by Cointelegraph, with the report stating, “Polkadot, Solana, NEAR, BSC, Avalanche, and Terra are growing faster than Ethereum did at similar points in its history.” The report goes on to compare the number of average monthly active developers between December 2020 and Dec. 2021, the news outlet explains, noting that Solana grew by 4.9 times, Near has a 4x growth rate, and Polygon’s monthly developers more than doubled, while Cosmos had a 70% increase in average monthly active developers, and BSC’s increase was 80% over the course of last year.
Although the development growth figures are impressive for more early-stage projects, Ethereum is still the leader in the space in terms of development, as highlighted by Cointelegraph, which notes that the Ethereum ecosystem continues to retain the largest network of tools, decentralized applications (dApps) and protocols, while the network is 2.8 times larger than its closest competitor, which is currently Polkadot. The news outlet goes on to note that Solana, Avalanche, BSC, Near and Terra have emerged as DeFi hubs over the past year or so, all of which have attracted more developers as adoption increases, and concluded that more than 500 new developers contributed code to a DeFi project every month in 2021 besides January.
- TheNumberOfTotalMonthlyActiveDevelopersAcrossAllBlockchainNetworksHitRecordHighOfMoreThan18,000recentlyAccordingToResearchConductedByElectricCapitalWhichNotedThatAlthoughEthereumIsStillWellAheadAmongTheProjectsSeveralRivalNetworksLikePolkadot/SolanaAndBinanceSmartChainAreGrowingFasterInTermsOfDevelopmentActivity
- TotalMonthlyActiveDevelopersAcrossAllChainsWasOver18,400asCodeCommitsMarkedNewRecordIn2021WithOver34,000sumbittedByNewDevelopersWithTheMeasurementsDerivedByAnalyzing500,000codeRepositoriesAnd160millionCodeCommitsWithTheReportShowingTheMostActiveEcosystemsAreEthereum/Polkadot/Cosmos/SolanaAndBitcoin
- WhileEthereumIsStillTheDominantEcosystemWithMoreThan20%ofNewDevelopersJoiningItsEcosystemSomeRivalNetworksHaveSeenGreaterGrowthIncludingPolkadot/Solana/Near/BSC/AvalancheAndTerraAllOfWhichAreGrowingFasterThanEthereumDidAtSimilarPointsInItsHistoryInTermsOfDevelopersWithSolanaGrowingAlmost5xAndNEARup4x
https://cointelegraph.com/news/ethereum-dominates-among-developers-but-competitors-growing-faster