The number of developers of cryptocurrency projects continues to grow

Representatives of the company Electric Capital reported that they had conducted their research on the growth in the number of developers in the field of cryptography. According to their testimony, the industry not only does not cease to arouse interest among people, but also continues to attract new faces to the field of developing cryptographic startups.

According to the testimony of Electric Capital, the fall of the crypto market was not the reason for the loss of global interest. Over the past year, the number of developers has increased by 5.4% and has already exceeded the mark of 23,300 people. To obtain these results, the researchers analyzed more than 250,000,000 code additions on GitHub.

A 70% drop in rates for 2022 did not prevent developers from continuing to develop in this direction and attracting new faces to the industry.

Electric Capital also noted that there are more permanent developers in the cryptocurrency market who are constantly engaged in their work. There were 15.2% more such people. The number of coders who limited themselves to one startup or one job, in turn, decreased by 5.2%.

In June 2022, the peak of activity of crypto developers was recorded. At that time, the total number of people working in the field of digital assets exceeded the 26,300 mark.

According to analysts, the value reached its peak due to the fall of the economic system Terra (LUNA), which occurred in May, that is, a month before the absolute record was set.

As for Web3 technologies, which are currently being promoted quite actively, 2022 was able to attract 61,127 new people working in this area. The indicator also became a record. It exceeded the results of 2021 by 25.8%.

Electric Capital also conducted research in the field of the flagship cryptocurrency. According to their observations, if we take a comparison of 2022 and 2018, then the number of developers in the field of digital gold has increased 3 times and now stands at 946 people.

As for the main altcoin, 5 times more people work on startups working on Ethereum than in the same 2018. To date, 5,819 developers have been discovered on ETH.

Other notable projects have also gained popularity. There are now more than 1,000 developers working on Solana, Polkadot, Cosmos and Polygon projects.

NFT tokens are also far from oblivion. If 2022 is compared with 2021, when there was an NFT boom and astronomical sales, then the total number of developers of non-fungible tokens has increased by 4 times. Again, in a special way, we note that in 2022 the NFT sector was very hard hit and in some cases, profit from non-fungible items fell by 90% or more.

The army of decentralized finance (DeFi) startup developers has also grown a lot. If in 2021 the sphere had more than 2,500 developers, then at the moment the number of developers is close to overcoming the mark of 4,000 people.