Unchained Why Crypto Developer Activity Continues to Grow Despite the Bear Market - Ep. 445
Jan 20, 2023
Maria Shen, a partner at Electric Capital, shares invaluable insights from their latest Developer Report, which emphasizes persistent developer growth in crypto, even amidst market downturns. She discusses Ethereum's dominance and the rise of EVM-compatible chains capturing more developer interest. The conversation also dives into the aftermath of the Terra collapse and how it reshaped engagement in the ecosystem. With a focus on measuring developer activity, Shen highlights the vital role of developers as indicators of the industry's health.
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Developers as a Health Metric
- Developers are a fundamental measure of emerging industry health, more so than prices.
- Developer numbers show people building, pushing code, creating protocols, and useful tools, bringing more developers and users.
Accelerated Developer Growth
- Crypto developer growth has significantly accelerated.
- It took seven years to reach 1,000 developers initially, then 22,000 were added in the following seven years.
Developer Churn
- Following a peak in June 2022, crypto developers declined by 11%.
- However, 95% of those who left were part-time or one-time contributors, not full-time core developers.
