Total monthly active developers on Ethereum reach record high
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.
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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.
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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.
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