Electric Capital’s Report On Best Blockchain Ecosystems At Present
Some of the best blockchain ecosystems based on one of the most valuable factors, developer engagements, have been revealed in a report published by Electric Capital, an early-stage venture firm that focuses on open-source repositories, fintech, cryptocurrencies, marketplaces, and blockchains. To create its developer report for 2021, the Electric Capital referred to original authors only, including non-original commits and blockchain ecosystems which generate code, keeping machine-generated code out and not counting the no-libraries.
Over the past year, about 65% of active developers have joined the development of web3, pushing its development to set a new all-time high. 2021 has been concluded as the year of highest engagement, as new developers who committed code in the year have reached 34,000, a 14% increase as compared to 2018 and the highest in history.
Increasing Monthly Active Developers
On average, about 7,895 monthly active developers have joined web3, since January 2021, estimating a 75% increase in the year. The report highlighted the fact that the number of monthly active developers joining web3 increased when prices and markets were bullish and stayed constantly steady when prices and markets went bearish. The number of monthly active developers who committed code on web3 and open-source cryptocurrency projects crossed 18,400. As per the report, of these 18,400 developers, around 680 developers work on Bitcoin and more than 4,000 on Ethereum.
Polkadot Acquires The Best Developer Growth
Gavin Wood, the founder of Polkadot, commented on the report saying that the report clearly shows that Polkadot has emerged as a separate class of its own and has the best developer growth ever since any web3 protocol has been launched, and is the largest dev community other than Ethereum.
New ecosystem developer analysis by @ElectricCapital shows @Polkadot literally in a class of its own with clearly the stongest developer growth since launch of any Web3 protocol and by far the biggest dev community outside of Ethereum. https://t.co/Tu6OQ7MMeX pic.twitter.com/3X0qWzleYd
— Gavin Wood (@gavofyork) January 6, 2022
Ethereum has more than 30% of all developers writing code on EVM (Ethereum Virtual Machine). However, Cosmos, Solana, Polkadot, BSC, Tezos, NEAR, Cardano, Avalanche, and Polygon are some projects that emerged as blockchain ecosystems acquiring over 250 monthly active developers.
Developers In Vibrant Blockchain Ecosystems
The report includes a comparison of average monthly active developers from December 2020 to December 2021. The report indicated that Solana had the highest growth rate in 2021, and has grown by five times in the year. Solana is followed by NEAR which grew four times in the year and became the largest blockchain ecosystem of 2021, following Ethereum, Polkadot, Cosmos, Solana & Bitcoin. The monthly active developer of Polygon doubled whereas Cardano recorded a 90% growth. Also, the monthly developers of BSC grew by 80%, Cosmos’ by 70%, and Bitcoin by 10%.
The report also overlooked smaller blockchain ecosystems that acquire less than 300 developers. The monthly active developers of Harmony, Terra, Fantom, and ICP quadrupled from December 2020 to December 2021, whereas Alorand and Avalanche tripled theirs.
According to the report, the blockchain ecosystems that emerged with the fastest growth rate had the following percentage of full-time developers:
- Terra – 312%
- Solana – 307%
- NEAR – 291%
- Fantom – 271%
- Avalanche – 179%
- Polygon – 175%
- Kusama – 161%
- Dfinity – 146%
- Moonriver – 125%
- Algorand – 116%
Electric Capital highlighted that the observed growth rates have been significantly higher, following numerous projects building closed-source at the beginning. It is worth noting that the reports haven’t included developers indulged in testing, backporting, and release engineering.