As debate over Web3 and Web2 continues in the tech community, a new report has revealed that projects in Web3 have continued to attract developer talent.
After looking at about 500K code repositories and 160 million commits, the report by Electric Capital has determined that the number of active developers on web 3 hit an all time high of 18,416 in December 2021.
Some interesting stats from the report on web 3 development growth:
18,000+ monthly active developers commit code in open source crypto and Web3 projects
34,000+ new developers committed code in 2021 — the highest in history
4,000+ monthly active open-source developers work on Ethereum, 680+ open-source developers work on Bitcoin
20%+ of new Web3 developers joined the Ethereum ecosystem
65% of active developers in Web3 joined in 2021; 45% of full-time developers in Web3 joined in 2021
Other than Etherum and Bitcoin, more ecosystems are garnering developer attention. The following ecosystems have at least 250 monthly active developers:
Insights on ecosystem growth include:
Solana grew 4.9x+ in 2021
NEAR is now the 6th largest ecosystem in 2021 with 4x+ growth
Polygon’s monthly developers grew by more than 2x
Cardano was +90%, BSC was +80%, Cosmos was +70%, and Bitcoin was +10%
Furthermore, about 2,500 developers are found to be working on DeFi projects – where over $100 billion is locked in smart contracts. Out of this less than 1000 devs are working full time.
In terms of dev talent, DeFi was found to have grown +76%, – with over 500 new developers committing code to a DeFi project every month in 2021 except for January 2021.