{"id":41588,"date":"2023-01-18T07:30:40","date_gmt":"2023-01-18T07:30:40","guid":{"rendered":"http:\/\/egrowonline.com\/?p=41588"},"modified":"2023-01-18T07:30:40","modified_gmt":"2023-01-18T07:30:40","slug":"number-of-devs-increased-during-crypto-winter-electric-capital-report","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=41588","title":{"rendered":"Number of devs increased during crypto winter: Electric Capital report"},"content":{"rendered":"


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The notion that bear markets are good for builders<\/a> appears to be true, with the total number of monthly active Web3 developers increasing 5.4% to more than 23,300 over the last 12 months despite a near 70% drop in crypto prices.<\/p>\n

According to a Jan. 16 report<\/a> from Electric Capital, \u201cfull-time\u201d developers \u2014 categorized as those who contribute to 76% of GitHub commits \u2014 also increased 15.2% to over 7000, while \u201cone-time\u201d builders fell 6.2% to over 3,500 during the same time period between December 2021 and December 2022.<\/p>\n

Despite the crypto market capitalization beginning its long plunge from its all-time high (ATH) of $2.9 trillion<\/a> in November 2021, monthly developer activity only began to fall this past June, after the metric reached its record high of nearly 26,500.<\/p>\n

This fall was partly attributed to the fall in developer activity in the Terra ecosystem following its catastrophic collapse<\/a> in May.<\/p>\n

Monthly active developer count over time compared to crypto\u2019s market capitalization. Source: <\/em>Electric Capital.<\/em><\/a><\/figcaption><\/figure>\n

The next three months from June to September saw a 26% fall in weekly active Web3 developers.<\/a><\/p>\n

Last year did however see 61,127 new Web3 developers come into the industry \u2014 the most ever recorded and a 25.8% increase from 2021.<\/p>\n

In fact, more new Web3 developers deployed their first line of open-source crypto code in the past year (109,723) than between 2014 and 2020 (101,054).<\/p>\n

Monthly active developer count since Bitcoin was launched compared to when Ethereum and its smart contract functionalities were introduced. Source: <\/em>Electric Capital.<\/em><\/a><\/figcaption><\/figure>\n

Ethereum continues to dominate developer activity, having increased its full-time developer count by 9% to 1,873 \u2014 which is more than the next three highest ecosystems combined: Polkadot (752), Cosmos (511) and Solana (383).<\/p>\n

Developer counts on non-Ethereum chains are catching up though. The Cosmos and Solana networks increased 34% and 36%, respectively, while Starknet is among one of the mid-sized ecosystems to have made a solid run<\/a> In 2022 with a 214% increase in developer count.<\/p>\n

Related: <\/em><\/strong>Inside the blockchain developers\u2019 mind: Building truly free-to-use DApps<\/em><\/strong><\/a><\/p>\n

The report also found that following Terra\u2019s collapse only 28 (9%) of the original Terra developers stuck around for Terra 2.0 while 143 developers (42%) called it quits and migrated to other ecosystems.<\/a><\/p>\n

Many of the former Terra developers migrated to Cosmos, 42 of 143, the most of any other ecosystem.<\/p>\n

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The number of full-time developers from each ecosystem since their launch date. Source: <\/em>Electric Capital.<\/em><\/figcaption><\/figure>\n

Electric Capital explained there are many more Web3 developers than accounted for in the report, as some projects are close-sourced.<\/p>\n<\/div>\n


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The notion that bear markets are good for builders appears to be true, with the total number of monthly active Web3 developers increasing 5.4% to more than 23,300 over the last 12 months despite a near 70% drop in crypto prices. According to a Jan. 16 report from Electric Capital, \u201cfull-time\u201d developers \u2014 categorized as […]<\/p>\n","protected":false},"author":1,"featured_media":41589,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[41],"tags":[656,62,7531,24,2613,1041,146,1866],"class_list":["post-41588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-capital","tag-crypto","tag-devs","tag-electric","tag-increased","tag-number","tag-report","tag-winter"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/01\/fab3629f-c95e-4b56-b8e9-fd0f42151268.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/41588","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41588"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/41588\/revisions"}],"predecessor-version":[{"id":41590,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/41588\/revisions\/41590"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/41589"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41588"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}