Dear Readers,

With this article I should share an interesting news, most of us are already know, but with the facts and figures on how the Crypto industry attract many developers over these years and witnessed the development of many unique and interesting projects. 

Electrical Capital is a firm that has invested in many early-stage layer-1 platforms and crypto startups like Frax, Immune Fi, Iron Fish, Near, Rabbit Hole, Slingshot, Spruce, Syndicate, Tokemake etc., 

In recent years, Electrical Capital publish the Annual Crypto Developer Report. In its 2022 report which was updated on 17 January 2023, it said that it got the data data by identifying over 200 million code commits across open-source archives, which displays a significant surge in the number of Crypto developers joining the crypto ecosystem in the future. 

In its executive summary, it says that in the 14 long years of the creation of the decentralised open-source crypto, the first half of 7 years, there only 1000 monthly active developers were involved in coding. But to this contrast, the second half of the 7 years have witnessed over 22000 monthly active developers exist. 

It highlights in the report that every year, there is an additional 5% of the coders are actively involved. It highlights that there were 23,343 monthly developers as of December 2022. In a massive All Time High of over 61000 developers have contributed the code for the first time in the year 2022. 

The report also came to the lime light that there were 3x increase in the Bitcoin monthly developers, while 7x increase in the monthly Ethereum developers. This data is highly useful for those who are batting that the Ethereum would surpass bitcoin the future as we can see that more active developers are getting into Ethererum block chains. There is 1000+ developers were increased in Solana, Polkado, Cosmos and Polygon eco systems from as low as 200. 

The report also highlighted that other major eco systems are developing beyond Bitcoin and Ethererum which is a good news for the Crypto development. 

I found the report is an interesting one. Those who would like to access the full report, can get it from the link which has annexed in this article. 

Thank you!