Electric Capital Developer Data Analysis: Slower Influx of New Developers, 22% YoY Decrease in Monthly Active Developers
Electric Capital report: Fewer new developers, 22% drop in monthly active developers YoY.
Electric Capital researcher Enrique analyzed and interpreted developer data from June 2022 to June 2023, finding a 22% year-on-year decrease in the number of monthly active developers, and that developers leaving the crypto field have only recently joined the cryptocurrency field and contributed only 20% of code commits. In contrast, developers who have worked in the crypto field for over a year chose to continue building and contributed over 80% of code commits.
From June 2022 to June 2023, the proportion of developers working in cryptocurrency for 1 to 2 years increased by 44%, while the proportion of developers working in cryptocurrency for over 2 years increased by 2%, and the number of developers working for less than 1 year decreased. The main reason is that new developers trying out cryptocurrency are decreasing and the retention rate of new developers joining in 2023 is lower, leaving faster than those who left in 2022 or 2021. This is typical in a bear market.
Although the total number of active developers per month has decreased, the code contribution of developers who stopped contributing after March 2023 accounts for less than 20% of the commit volume. Developers who made contributions in April and May contributed most of the code, accounting for over 80%, and they actively push code and stay longer in the cryptocurrency field. In addition, compared to June 2022, ecosystems with increased monthly development activity include Osmosis (+56%), Sui (+159%), Aptos (+90%), TON (+102%), Optimism (+27%), and Aztec (+267%).
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