Total monthly active developers on Ethereum reach record high

Share This Post





The Ethereum platform is still the favourite among developers despite the boom of competing networks. The current data shows that the number of developers on the ETH blockchain is significantly more than rival networks.

However, with ETH facing scalability issues, rival networks are fast-growing, and they are catching up.

Ethereum is still taking the lead among developers

Data from Electric Capital, a crypto research firm, showed that over 4000 monthly active open-source developers were working on the Ethereum network. This is significantly higher than the 680 developers working on the Bitcoin network.

The total number of monthly active developers working across all chains is over 18,400. Additionally, new developers’ number of code commits in 2021 sits at over 34,000. The numbers were derived after analysing half a million code repositories and 160 million code commits.

Additionally, other networks are fast picking pace, ETH has remained the lead. The network boasts of the largest network of tools, Dapps and protocols. Furthermore, ETH is 2.8 times larger than Polkadot, its closest competitor.

Ethereum facing tough competition

The report further noted that the largest developer ecosystems in the market are Ethereum, Polkadot, Cosmos, Solana and Bitcoin. Top Ethereum competitors such as Polkadot, Solana and Binance Smart Chain are growing faster than Ethereum in development.

Polkadot comes in as the closest rival of ETH, with 1500 developers. Cosmos and Solana have 1000 developers each. The other active networks in developer activity include Cosmos, Near, Tezos, Polygon and Cardano.

“Polkadot, Solana, NEAR, BSC, Avalanche, and Terra are growing faster than ETH did at similar points in its history,” the report stated. Between December 2020 and December 2021, Solana recorded a 4.9 times growth while Near recorded a 4 times growth. The growth levels at Polkadot increased by over two times.

On the other hand, the number of monthly active developers on Cosmos increased by 70%, while BSC recorded an 80% growth within the same period.

Solana, Avalanche, BSC, Near and Terra became the largest decentralised finance (DeFi) locations over the past 12 months. These networks had recorded an increase in developers and levels of adoption.

Your capital is at risk.

Read more:

Read Entire Article
spot_img

Related Posts

Gold and Silver Weather the Storm as Middle East Unrest Shakes Crypto Markets

Over the weekend, cryptocurrency assets saw a significant drop, with the crypto economy shedding more than 5% to fall to $23 trillion, while precious metals also saw declines, albeit less severe than

Bitcoin Bonanza Before The Halving? Analyst Sees Pre-Crash Buying Window

Bitcoin, the pioneer and flagbearer of the digital currency realm, has once again captured the attention of investors Recent market dynamics have prompted discussions among analysts and enthusiasts

US Spot Bitcoin ETFs See $55.1M Outflow; GBTC Divests 2,048 BTC Amid Market Volatility

Data shows that US spot bitcoin exchange-traded funds (ETFs) experienced negative outflows on Friday, totaling $551 million, with Grayscale’s Bitcoin Trust (GBTC) seeing another notable

Bitcoin is the only way out of feudalism

The following is a guest post by Kadan Stadelmann, the CTO of Komodo Blockchain The US has undergone an immense consolidation of wealth and power in recent years Americans everywhere are suffering

Coinbase Launches Interlocutory Appeal In SEC Case – Details

Coinbase is seeking an interlocutory appeal in its ongoing court case with the US Securities and Exchange Commission (SEC) This petition marks the latest development in a highly-monitored lawsuit

Bitcoin ETF Issuers Push Holdings To 4.27% Of BTC Supply Amid Crash To $61,000

There’s no denying the launch of Spot Bitcoin ETFs has done wonders for the price of Bitcoin and other cryptocurrencies in general These ETFs have now unlocked institutional demand into the
- Advertisement -spot_img