Home News Ethereum dominates among developers, but competitors are growing faster

Ethereum dominates among developers, but competitors are growing faster

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Although Ethereum has many more developers than competing networks, it is catching up at a faster rate.

According to a new analysis published on Thursday by crypto research firm Electric Capital, Ethereum competitors such as Polkadot, Solana, and Binance Smart Chain (BSC) are expanding quicker in terms of development activity.

Ethereum boasts around 4,000 active open-source developers on a monthly basis, significantly more than the 680 who work on the Bitcoin network. In 2021, the total number of monthly active developers observed across all chains surpassed 18,400, while the number of code changes by new developers surpassed 34,000.

The information was acquired by looking at 500,000 code repositories and 160 million code commits (code updates or alterations). According to the study, the top five developer ecosystems are Ethereum, Polkadot, Cosmos, Solana, and Bitcoin.

According to the report, Polkadot has over 1,500 developers, while Cosmos and Solana each have around 1,000.

Cosmos, Near, which established an $800 million developer fund in October, Tezos, Polygon, and Cardano, each with more than 250 active monthly developers, were the other active ecosystems in terms of monthly developers.

Ethereum remains the most popular, with more than 20% of new Web3 developers joining its ecosystem. However, competitor networks have grown faster.

“Polkadot, Solana, NEAR, BSC, Avalanche, and Terra are growing at a quicker rate than Ethereum did at similar times in its existence.”

Ecosystem developer growth since first commit. Source: Electric Capital

The analysis compared the average monthly active developers from December 2020 to December 2021. Finding that Solana increased by 4.9 times, close climbed by 4x, and Polygon’s monthly developers more than doubled. Over the course of 2021, Cosmos experienced a 70% growth in average monthly active developers. While BSC experienced an 80% rise.

While the development growth rates for several early-stage projects are outstanding, Ethereum remains the undisputed ruler. The ecosystem maintains the largest network of tools, and decentralised applications. As well as protocols, and is 2.8 times larger than Polkadot, its closest competitor.

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