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SAN FRANCISCO, January 17, 2023 /PRNewswire/ — Electric Capital today released its 2022 Developer Report, the industry standard for understanding the landscape across crypto developer ecosystems.

We tracked 250 million code commits across open source repositories to create the 2022 Developer Report.

Summary

We are 14 years after the creation of open-source crypto. In the first 7 years, 1,000 monthly active developers wrote code. Over the past 7 years, crypto gained more than 22,000 active developers per month.

1. Monthly Active Developers increased by +5% year-over-year, despite prices dropping over 70%.

  • 23,343 monthly developers at December 2022.
  • More than 471,000 monthly code commits are made to open source each month crypto.
  • +8% annual growth of full-time developers. The growth of full-time developers is the most important growth signal to track, as they contribute 76% of code commits.
  • An all-time high of over 61,000 developers contributed code for the first time in 2022.

2. Crypto the value of the network returned to January 2018 levels, but monthly active developers have increased by +297% since 2018. Comparing the previous crypto winter to today:

  • 3x growth in Bitcoin monthly active developers, from 372 to 946
  • 5x growth in Ethereum monthly active developers, from 1,084 to 5,819
  • Solana, Polkadot, Cosmos, and Polygon have grown from less than 200 developers to over 1,000 developers.

3. Major ecosystems emerge beyond Bitcoin and Ethereum.

  • 72% of monthly active developers work outside of the Bitcoin and Ethereum ecosystems.
  • Solana, NEAR, and Polygon grew 40% year-over-year and have over 500 monthly active developers in total.
  • Sui, AptosStarknet, Mina, Osmosis, Hedera, Optimism, and Arbitrum grew by more than 50% year-over-year and have a total of more than 100 monthly active developers.
  • 3,901 developers work in DeFi each month across multiple channels, +240% since DeFi summer. 50% of DeFi developers are outside of Ethereum.
  • Over 900 developers write code every month in NFTs across channels, +299% since 2021.

Go to DeveloperReport.com for more data and the full report
We are delighted to launch DeveloperReport.com to present the data that goes into the creation of the developer’s annual report. Our goal is to provide a transparent and open source of data to the community.

We’ll be adding more visualizations, more data, and moving towards more real-time updates on DeveloperReport.com. We will continue to publish an annual developer report with detailed analysis also on an annual basis.

Why developers?
Developer engagement is an early and major indicator of value creation in emerging platforms. Developers create killer apps that deliver value to end users, which attracts more customers, which then attracts more developers.

Because crypto is largely open source, we have a unique and unprecedented ability to understand an emerging industry that may be worth trillions.

More than 250 contributors: follow-up of the Crypto The Developer Community is an open source effort
In the first Developer Report released in 2019, we only tracked 3,000 crypto ecosystems and 21,000 pensions. This year, we have followed more than 9,000 ecosystems and more than 163,000 repositories specifically dedicated to cryptocomposed of more than 124 million lines of code.

Find, track and map these crypto repositories is a community effort. Thanks to the 250+ contributors who have added repositories to the Crypto Github ecosystems. If you work in open-source cryptoplease help the community by adding your repository to the mapping.

About Electric Capital

Electric Capital is a leader crypto venture capital firm. We are early investors in many well-known Layer 1 platforms, DeFi protocols, NFT, DAO and breakout projects crypto businesses.

Learn more at ElectricCapital.com

Questions?
[email protected]

SOURCE Electric Capital



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