- The variety of new cryptocurrency and blockchain builders is rising for the primary time since 2017
- New month-to-month cryptocurrency and blockchain builders grew 15% in 2020, rising for the primary time since 2017
- 80%+ of all lively builders in the present day got here within the final two years
- There’s a flight to high quality: top quality ecosystems are rising whereas others are shrinking
- Month-to-month lively cryptocurrency and blockchain builders have stayed flat whilst new builders joined because of developer loss outdoors of the Prime 200 ecosystems by community worth
- The variety of builders outdoors of the Prime 200 by community worth decreased by 30% from December 2018
- Developer exercise is especially sturdy throughout Bitcoin, Ethereum, some Layer 1s, and Decentralized Finance
- Bitcoin ecosystem has 70%+ extra builders than it did 3 years in the past
- 300+ new builders monthly decide to the Ethereum ecosystem
- 67% improve in month-to-month lively builders in Decentralized Finance since January 2020
Full findings from the Developer Report can be found here.
Why Analyze Developer Exercise?
Crypto networks are new open platforms on which new purposes can be constructed. An early sign of adoption on an rising platform is engagement from builders. Builders construct the purposes that ship worth to finish customers and prospects, which attracts extra builders. The crypto stack is uniquely open supply, permitting us to investigate and perceive developer engagement in an unprecedented means.
About Electrical Capital
Electrical Capital is a enterprise agency that invests in cryptocurrencies, blockchain primarily based companies, fintech corporations, and marketplaces. We compile code, profile nodes, analyze blockchains and open supply initiatives, assist safe cryptonetworks, and write software program to assist our portfolio corporations perceive their ecosystems. We publish an annual Developer Report that’s the trade customary for understanding the developer ecosystems throughout cryptonetworks. Electrical Capital and its founders have invested in crypto corporations resembling Anchorage, Bitwise, Celo, Derivadex, Elrond, Mina, Mobilecoin, Oasis, and NEAR.
Disclosure
The Developer Report is for informational functions solely, you shouldn’t construe any such info or different materials as authorized, tax, funding, monetary, or different recommendation. Nothing contained within the report constitutes a solicitation, advice, endorsement, or provide by Electrical Capital or any third occasion service supplier to purchase or promote any securities or different monetary devices on this or in another jurisdiction wherein such solicitation or provide can be illegal beneath the securities legal guidelines of such jurisdiction.
Electrical Capital has positions in among the initiatives talked about within the report. For a listing of previous and current investments, please go to electriccapital.com.
Media Contact:
Priscilla Reed
[email protected]
SOURCE Electrical Capital
