Skip to main content

Study Shows Number of Crypto Developers Up by 52% Since 2018

Over the past five years, the number of established developers with more than 2 years experience of working in crypto grew at an annualized rate of 52%. According to the findings of a study, established developers (2+ years) together with emerging developers make an average of three times more code commits than newcomers.

Experienced Developers’ Contributions

“According to Electric Capital’s 2023 Crypto Developer report, the number of established active developers, or those with 2+ years of experience working on crypto-related projects, has grown by an annualized rate of 52% over the past 5 years. This annualized growth rate was achieved despite the 24% drop in the overall number of active developers from 29,611 in December 2022 to 22,411 by December 2023.

The report data also shows that the number of experienced developers (1+ years) grew by 16% from 12,158 in December 2022 to 14,083 by December 2023. This saw them account for 63% of all monthly active developers. In contrast, the number of developers who worked on crypto-related projects for less than a year fell by 52% year-on-year.

Meanwhile, in the study report, the Electric Capital team also highlighted the significance of experienced developers’ contributions by revealing their disproportionate share of code created.

“75% of code is created by developers in crypto [with] 1+ years. Devs working in crypto for more than a year commit more consistently than newcomers,” the report revealed.

The report also added that established developers (2+ years) together with emerging developers make an average of three times more code commits than newcomers.

Concerning the fluctuating number of developers, the Crypto Developer report attributes these changes to newcomers who are drawn by the rise of crypto asset prices. This assertion is backed by data suggesting that more than 6,500 newcomers joined crypto every month in 2022. This phenomenon only happened after the crypto network value touched a historical high in November 2021.

Regarding the geographical distribution of developers, the report shows that the United States “has lost 14% of developer share since 2018 and is now only 26% of crypto developers.” Overall, North America now only accounts for 28% of developers. By contrast, South Asia, Latin America, Eastern Europe, Western Africa, and Southern Europe have seen their developer share grow by more than 20% since 2018.

What are your thoughts on this story? Let us know what you think in the comments section below.



from Bitcoin News https://ift.tt/36ixqMK
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

DefiDollar Listing on AscendEX

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the DefiDollar Token (DFD) under the pair USDT/DFD on Apr 29 at 1:00 p.m. UTC. DefiDollar is a DeFi lab that aims to bring mass adoption to DeFi with a wide-ranging product suite. The first product offering to go live will be the stablecoin index – DUSD, with ibBTC and optionCoin currently in development. DefiDollar (DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It is designed to provide a safe and stable way for users to hold their assets with DUSD being optimized for peg safety, yield, and diversification. DefiDollar uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying stablecoin holdings to hedge against an event where the underlying stablecoins like Tether or DAI deviate from their peg. DUSD is collateralized by Curve Finance LP tokens. DFD is the n...
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more