Ethereum (ETH) has seen a five times increase in developers contributing to an open source project in the crypto bear market compared to what it was in 2018.
according to Report By Electric Capital, the number of monthly active Ethereum developers increased from 1,084 in 2018 to 5,819 in 2022. The monthly active Bitcoin developers also increased from 372 to 946.
The report also said that there were 23,343 monthly blockchain developers as of December 2022. Furthermore, open source crypto projects see over 471,000 monthly code commits each month and an all-time high of over 61,000 developers contributing code for the first time in 2022.
More importantly, the crypto space saw an 8% year-over-year increase in full-time developers. Electric Capital states that it is the most important “growth signal” with full-time developers doing 76% of code commits.
Increased numbers of blockchain developers outside of Ethereum and Bitcoin
The Electric Capital report also highlighted that 72% of all monthly active developers operate outside of the Ethereum and Bitcoin ecosystems. For example, Solana, NEAR, and Polygon grew 40% year-over-year and have over 500 active developers per month.
Moreover, Sui, Aptos, Starknet, Mina, Osmosis, Hedera, Optimism, and Arbitrum have more than 100 monthly active developers, which is a 50% increase year-on-year.
However, it is important to note that while Polygon, Starknet, Optimism, and Arbitrum are separate projects from Ethereum, they scale Ethereum and are closely related to the blockchain.
For decentralized finance (DeFi) protocols, there are 3,901 developers operating across different blockchains, up 240% since the so-called DeFi summer in 2020. The NFT sector has also grown by 299% since 2021, with more than 900 developers contributing per month.
Ethereum is widely known as the only sufficiently decentralized smart contract blockchain. High developer activity is important for scaling Ethereum to the masses.