This year, the Solana ecosystem has attracted a wave of new developers, surpassing Ethereum’s previously undisputed reign as the top preference for newcomers. Despite this shift, Ethereum continues to lead overall developer activity worldwide.
A recent report released by Electric Capital revealed that Solana has brought in 7,625 new developers this year, surpassing Ethereum’s 6,456. Many of these developers are based in Asia. Further, the report indicated that Solana’s activity had observed an 83% spike from the previous year.
Interestingly, Solana has outperformed Ethereum in some areas during this year. For instance, the Solana network witnessed higher activity than Ethereum due to the rush for Solana-based memecoins, and on October 28, Solana outdid Ethereum in terms of daily network fee generation over 24 hours.
However, there has been a 7% decrease in developers exploring crypto this year, as 39,148 new developers joined, in contrast to more than 77,000 in 2022.
Despite these developments, Ethereum remains the leading ecosystem in terms of total developer activity. Ethereum has witnessed a reduction of 17% in its monthly developers, dropping to 6,244, yet it still leads in total developer activity. It also has the most active developers from various regions including Asia, Europe, North America, Africa, and South America.
Finally, the report highlights the global growth in the crypto space. Developer numbers have surged particularly in Asia, Africa, and South America, with Asia leading due to India attracting the most new crypto developers in 2024. The report posits that crypto activity now spans all time zones with various regions leaning towards different use cases.