В 2024In 2024, the crypto industry continued to evolve, showcasing notable trends in development. According to a report by Electric Capital, significant changes occurred in the distribution of developers across various blockchain platforms and geographic regions.
Electric Capital analyzed 902 million code commits across 1.7 million repositories to compile the 2024 Developer Report.
Developer Activity Has Become Increasingly Global
Since the launch of Ethereum in 2015, the number of crypto developers has grown at an annual rate of 39%. In 2024, 39,148 new developers began exploring the crypto space.
The total number of developers in 2024 saw a slight decline, decreasing by 7%. However, experienced developers—those with more than two years in the crypto industry—reached an all-time high, with their numbers steadily increasing. This group has grown by 27% year-over-year and now accounts for 70% of code commits.
Multi-Chain Approach
The crypto industry is increasingly embracing a multi-chain model:
- 30% of developers now support more than one blockchain, a tenfold increase from just 3% in 2015.
- The share of developers supporting three or more blockchains reached a record 17% in 2023.
Solana Surpasses Ethereum in Attracting New Developers
One of the most notable trends in 2024 is Solana’s ecosystem attracting more new developers than Ethereum for the first time since 2016. In 2024, Solana welcomed 7,625 new developers, compared to Ethereum’s 6,456. This highlights Solana’s growing appeal among developers and could signal potential shifts in the competitive landscape of the cryptocurrency market.
Geographical Shifts
The report also revealed significant changes in the geographical distribution of crypto developers:
- Asia emerged as the leading continent for active developers, overtaking North America.
- India recorded the highest growth in new crypto developers, accounting for 17% of the global total.
- While the United States remains the leader in overall developer numbers, its dominance is gradually eroding.
General Market Trends
Despite growth in certain areas, the total number of new developers in 2024 decreased by 7% compared to 2023. This decline may reflect a stabilization of the market following the rapid expansion of previous years.
User Activity
Interestingly, while the number of new developers has slightly declined, user activity in the crypto space has reached record levels.
- In September 2024, 220 million active addresses were recorded interacting with blockchains.
- Monthly users of mobile crypto wallets peaked at 29 million in June 2024.
Conclusion
The 2024 report highlights the dynamic evolution of the cryptocurrency industry. The rising popularity of Solana, shifts in the geographical distribution of developers, and record-breaking user activity reflect the ongoing transformation of the crypto landscape. These trends are likely to have a profound impact on the future development of blockchain technologies and the cryptocurrency market as a whole.
