Unchained 65% of Active Developers Joined Web3 in 2021 - Ep.306
Jan 7, 2022
Maria Shen, a partner at Electric Capital, shares insights from their recent report on Web3 development, noting a dramatic rise in developer engagement beyond Bitcoin and Ethereum. She discusses the factors driving this growth, like asset prices, and highlights Ethereum’s impressive ability to retain developers. Maria delves into the emerging ecosystems of Polkadot and Solana, contrasts their growth rates with Ethereum's history, and expresses enthusiasm for studying community growth in the future.
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Web3 Developer Growth
- Web3 saw record-high monthly developers (18,000+) in 2021, a 75% increase.
- More developers joined Web3 in 2021 than any prior year, exceeding 34,000.
Price and Developer Activity
- Developer growth in Web3 often correlates with rising crypto prices, attracting new developers.
- Surprisingly, many developers remain active even when prices decline, demonstrating commitment.
Ethereum's Dominance
- Ethereum's developer ecosystem is almost three times larger than its nearest competitor.
- Its sustained growth and developer retention, even during market downturns, are noteworthy.
