It still has more developers than other networks, but they’re growing faster than the Ethereum ecosystem, which is still much bigger.
In a report released on Jan. 6, crypto research firm Electric Capital looked at the blockchain development ecosystem. It found that Polkadot, Solana, and Binance Smart Chain, which are all competitors to Ethereum, are growing more quickly than Ethereum.
It said that more than 4,000 open-source developers work on Ethereum every month, far more than the 680 who work on the Bitcoin network.
Across all chains, there were more than 18,400 active developers each month. In 2021, the record for the number of code commits by new developers was broken with more than 34,000.
Some 500,000 code repositories and 160 million commits, which are changes or updates to the code, were used to figure out how well the code worked.
This is what a report said: Ethereum, Polkadot, Solana, Cosmos, and Bitcoin are the five largest ecosystems for developers.
Report: Polkadot has about 1,500 developers in total. Cosmos and Solana each have about a thousand, as well.
Cosmos, NEAR, Tezos, Polygon, and Cardano, each with more than 250 active monthly developers, were some of the other active ecosystems. In October, NEAR launched a $800 million fund for developers.
More than 20% of new Web3 developers have joined the ecosystem of Ethereum. But other networks have grown more quickly, and they’re becoming more popular.
“Polkadot, Solana, NEAR, BSC, Avalanche, and Terra are growing faster than Ethereum did at similar points in its history.”
People who work on games every month grew by 4.9 times, NEAR had a 4X growth rate, and Polygon’s monthly developers more than doubled over the next two years, a report said.
People who use Cosmos and BSC on a regular basis increased by 70% and 80% over the course of 2021.
While some early-stage projects have seen a lot of growth, Ethereum is still the best.
The ecosystem is still the largest network of tools, dapps, and protocols. Polkadot, its closest competitor, is 2.8 times bigger than the ecosystem.
Solana, Avalanche, BSC, NEAR, and Terra have become DeFi hubs over the last year or so, and more developers are coming to them as people use them more.
There were more full-time contributors to DeFi projects last year than there were in January, and more than 500 new developers added code to a DeFi project every month except January, the company said.