Key Points
- The blockchain developer ecosystem is experiencing a decrease in new developers and an increase in experienced developers’ dominance.
- This trend indicates a growing centralization in the developer market, raising concerns about diversity and innovation in the sector.
The blockchain developer ecosystem is seeing a shift in its dynamics. There’s a decrease in the number of new developers entering the field, while those with experience are taking the lead. This change was highlighted in a recent research report by Electric Capital.
Fewer New Developers
The report shows a significant drop in the number of active blockchain developers. The number fell from over 31,000 in November 2022 to 23,160 in November 2024, a 25% decline.
Part-time developers and newcomers were the most affected. Their numbers fell from 16,600 and 18,547 respectively in November 2022, to 12,386 and 8,986 in November 2024.
On the other hand, established developers, those with two or more years of experience, saw a growth in their numbers. From 6,903 in November 2022, their count rose to 11,400 in November 2024, a 65% increase.
Experienced Developers Dominate
The report also highlighted the growing influence of experienced developers, who are now committing 70% of code commits. Even as the overall developer count is falling, experienced developers are taking up a larger share of the work.
This trend raises concerns about centralization in the developer market. Over-reliance on experienced developers might lead to a lack of fresh ideas and diverse perspectives, stifling creativity and innovation.
However, the growing dominance of experienced developers is also seen as a sign of the industry’s maturation. It’s believed that the trend will encourage newcomers and part-timers to have strong mentors and robust frameworks to build upon.
Global Distribution of Developers
The report also sheds light on the geographical distribution of blockchain developers. Asia now leads in developer share, with North America falling to third place. The U.S. still has the largest share of blockchain developers globally, but it has seen a significant drop from 38% in 2015 to 18.8% in 2024.
India is emerging as a leader in the field, accounting for 11.7% of the global share of new developers in 2024. Other countries with significant developer bases include the U.K., China, and Canada.
Diversification Across Chains
Developers are now working across more blockchain ecosystems than ever before. In 2015, fewer than 10% of developers worked on multiple chains. By 2024, this number had increased to one in three.
Ethereum (ETH) remains the largest ecosystem for total developer activity. However, Solana (SOL) is attracting more new developers, growing its developer base by 83% in 2024. Bitcoin (BTC) development remains stable, with 42% of developers working on scaling solutions.
Expanding Use Cases
Different blockchains are attracting developers based on specific use cases. Ethereum leads in total developer activity and remains a hub for decentralized finance. Solana dominates decentralized exchange usage and is a leader in low-fee use cases like NFT/meme coins minting.
The report also highlights growing sectors like stablecoins and re-staking. Stablecoins now have over $195 billion in circulating supply and more than $80 billion in daily transaction volume. The re-staking sector grew its full-time developer count by 130% in 2024.
The shift toward experienced developers shows that the industry is maturing. However, it also raises concerns about centralization and diversity. As newcomers decline and established developers dominate, the industry could become less innovative. The 7% decline in total developers in 2024 indicates that some are leaving due to market uncertainty or fewer opportunities. This decline could hamper blockchain innovation over time.