Ethereum remained the blockchain with the most devs, and the overall population of software builders in crypto was flat, the VC firm said in its annual survey.
The ranks of cryptocurrency developers held steady in 2024, as some recent entrants left the industry while veterans mostly stuck around, according to a report released Thursday by Electric Capital.
The results underscore the challenge Ethereum faces as rival smart contract platform Solana's low fees and fast transactions attract “Ethereum absolutely dominates,” said Shen “Ethereum has very, very deep network effects, and you can see that through the data.” Growth in Ethereum development can mainly be attributed to the vast number of layer-2 networks that have popped up, with Base, Optimism, and Arbitrum seeing many developers working on their chains. Slightly more than half – 56% – of Ethereum developers are working on the layer-2s on top of it, Electric Capital found.
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