A new developer report from venture firm Electric Capital found Solana is the number one blockchain for new developers.
The report found that of the 39,148 new developers who began exploring crypto this year, 7,625 built on Solana, representing an 83% jump year-over-year in the network’s developer count. This marks the first time a blockchain ecosystem is growing faster than Ethereum since 2016, the report said.
However, Ethereum remains the top blockchain by total developer share across North and South America, Asia, Europe and Africa. Solana followed second in terms of developer count across the same regions.
Numerous factors contributed to the leap in interest among developers in Solana, including a surge in network and user activity amid a memecoin rally after platforms like Pump.fun enabled easier memecoin launches.
Electric Capital’s report also found that, in 2024, Aptos, Base, Bitcoin, Internet Computer, NEAR, Polkadot Polygon, Starknet and Sui all gained more than 1,000 new developers. Additionally, BNB, Optimism, Scroll, Stellar and TON amassed 500 new developers.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
About Author
MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University’s Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.
