Key highlights:
- While new developers dipped, those with over a year of experience grew 16% and now makeup 63% of monthly activities.
- A massive 10x jump to 30% of devs coding across networks shows blockchain menus are going continental.
- The developer diaspora has officially gone worldwide, with 72% now outside North America.
While headlines indicate the number of blockchain developers dropped -24% in 2023, a deeper dive into Electric Capital’s Developer Report shows the crypto ecosystem continues to mature. Let’s unpack what this year’s data reveals about where blockchain development stands today.
Developers are getting more experienced
Despite the overall decline in monthly active developers, the report found developers who have been in crypto for 2+ years hit an all-time high. It’s like how you usually see more customers return to a restaurant as it gains more experience in perfecting its menu – experienced developers are choosing to stick around as blockchain proves it’s staying power.
In fact, developers with over a year of experience grew +16% YoY and made up 63% of monthly activities. Meanwhile, newcomers less than a year in plunged -52% YoY after a flood of interest in 2021’s bull market. It seems the hype brought in some developers just along for the ride who didn’t stick around after prices cooled. But the seasoned veterans remain.
Multi-chain is the new normal
One of the more fascinating trends is how developers are supporting an increasing number of blockchains. In a telling sign crypto is maturing beyond individual chains, 30% of devs now code across more than one network – a massive 10x jump from just 3% in 2015.
Those coding on 3+ chains ballooned to 17%, showing blockchain functions are becoming more portable. It’s kind of like how web developers today build sites that work on any browser, not just one. As blockchains integrate more, developers have the flexibility to solve problems across the ecosystem instead of being confined to a single network.
Growth occurs where real utility drives demand
Drilling into specific networks, the report found growth isn’t uniform – some projects gained developers while others lost them. This shows developers vote with their work, choosing to build where real user demand and utility pull them in.
It’s kind of like how in a business, you’ll see more hiring when certain departments start achieving success. Or how in entertainment, popularity breeds more creative talent flocking to work on hit shows and games. Where users lead, developers follow to meet their needs.
Image: Crypto development chart
A truly global movement
The increasingly international makeup of crypto development is striking. A full 72% of developers now reside outside North America, with the US share falling -14% since 2018 to only 26%.
Crypto truly is a worldwide phenomenon, with growing builder communities in hubs like South Asia, Latin America, and Eastern Europe. It parallels crypto’s promise as a more inclusive financial system that provides opportunity across borders. With over 4 billion unbanked globally, developers have immense potential to drive further access.
While developer numbers fell short-term, the trends reveal a maturing ecosystem. Experienced builders are sticking around, talent is spreading across many innovations, and growth follows true utility – all signs crypto is here to stay. The network gets stronger as it welcomes more problem solvers from every corner of the planet.