{"id":540262,"date":"2023-01-18T05:31:46","date_gmt":"2023-01-18T02:31:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/number-of-devs-increased-during-crypto-winter-electric-capital-report\/"},"modified":"2023-01-18T05:31:46","modified_gmt":"2023-01-18T02:31:46","slug":"number-of-devs-increased-during-crypto-winter-electric-capital-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/number-of-devs-increased-during-crypto-winter-electric-capital-report\/","title":{"rendered":"# Number of devs increased during crypto winter: Electric Capital report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a239af436b28\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a239af436b28\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/number-of-devs-increased-during-crypto-winter-electric-capital-report\/#%E2%80%9D_Number_of_devs_increased_during_crypto_winter_Electric_Capital_report_%E2%80%9C\" >&#8221; Number of devs increased during crypto winter: Electric Capital report &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Number_of_devs_increased_during_crypto_winter_Electric_Capital_report_%E2%80%9C\"><\/span>&#8221; Number of devs increased during crypto winter: Electric Capital report &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-5a4050f8>The notion that bear markets are good for builders <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be true with the total number of monthly active Web3 developers increasing 5.4% to more than 23,300 over the last 12 months despite a near 70% drop in crypto prices.<\/p>\n<p>According to a Jan. 16 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.developerreport.com\/developer-report\">report<\/a> from Electric Capital, \u201cfull-time\u201d developers \u2014 categorized as those who contribute to 76% of Github commits \u2014 also increased 15.2% to over 7000, while \u201cone-time\u201d builders fell 6.2% to over 3,500 during the same time period between December 2021 and December 2022<\/p>\n<p>Despite the crypto market capitalization beginning its long plunge from from its all-time high (ATH) of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/charts\/\">$2.9 trillion<\/a> in Nov. 2021, monthly developer activity only began to fall in Jun. 2022 after the metric reached its record high of nearly 26,500.<\/p>\n<p>This fall was partly attributed to the fall in developer activity in the Terra ecosystem following its catastrophic collapse in May. 2022.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/98d0fec1-8afe-4ec8-bccf-36aa1f8ea84e.jpg\"><figcaption style=\"text-align: center;\"><em>Monthly active developer count over time compared to crypto\u2019s market capitalization. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.developerreport.com\/developer-report\"><em>Electric Capital.<\/em><\/a><\/figcaption><\/figure>\n<p>The next three months from June to September saw a 26% fall in weekly active Web3 developers.<\/p>\n<p>2022 did however see 61,127 new Web3 developers come into the industry \u2014 the most ever recorded and a 25.8% increase from 2021.<\/p>\n<p>In fact, more new Web3 developers deployed their first line of open-source crypto code in the past year (109,723) than between 2014 and 2020 (101,054).<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/8505f477-527b-412b-b32a-490a2a4d73b6.jpg\"><figcaption style=\"text-align: center;\"><em>Monthly active developer count since Bitcoin was launched compared to when Ethereum and its smart contract functionalities were introduced. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.developerreport.com\/developer-report\"><em>Electric Capital.<\/em><\/a><\/figcaption><\/figure>\n<p>Ethereum continues to dominate developer activity, having increased its full-time developer count by 9% to 1,873 \u2014 which is more than the next three highest ecosystems combined \u2014 Polkadot (752), Cosmos (511) and Solana (383).<\/p>\n<p>Developer counts on non-Ethereum chains are catching up though. The Cosmos and Solana networks increased 34% and 36% respectively, while Starknet is among one of the mid-sized ecosystems to have made a solid run in 2022 with a 214% increase in developer count.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Inside the blockchain developers\u2019 mind: Building truly free-to-use DApps<\/em><\/strong><\/p>\n<p>The report also found that following Terra\u2019s collapse only 28 (9%) of the original Terra developers stuck around for Terra 2.0 while 143 developers (42%) called it quits and migrated to other ecosystems.<\/p>\n<p>Many of the former Terra developers migrated to Cosmos, 42 of 143, the most of any other ecosystem.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/48ddaf68-b269-4570-b5c0-53b08eb06380.jpg\"><figcaption style=\"text-align: center;\"><em>The number of full-time developers from each ecosystem since their launch date. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.developerreport.com\/developer-report\"><em>Electric Capital.<\/em><\/a><\/figcaption><\/figure>\n<p>Electric Capital explained there are many more Web3 developers than accounted for in the report as some projects are close-sourced.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/number-of-devs-increased-during-crypto-winter-electric-capital-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Number of devs increased during crypto winter: Electric Capital report &#8220; The notion that bear markets are good for builders appears to be true with the total number of monthly active Web3 developers increasing 5.4% to more than 23,300 over the last 12 months despite a near 70% drop in crypto prices. According to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":540263,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/fab3629f-c95e-4b56-b8e9-fd0f42151268.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,75571,74868,74891,75168,113408,75434,92498,122378,74355,20093,73821],"class_list":["post-540262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-applications","tag-defi","tag-ethereum","tag-polkadot","tag-polygon","tag-smart-contracts","tag-solana","tag-terra","tag-adoption","tag-cosmos","tag-developers"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/540262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=540262"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/540262\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/540263"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=540262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=540262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=540262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}