Previously Unthinkable Development for Solana: Beats Ethereum on This Metric

Solana has surpassed Ethereum for the first time as the fastest-growing blockchain ecosystem for new developers, according to a new report from venture firm Electric Capital.

The report highlights a significant shift in the developer landscape, with Solana projected to attract 7,625 new developers by 2024, an 83% increase from the previous year.

Of the 39,148 developers who started exploring the crypto space this year, around 20% chose Solana as their platform. This is the first time another blockchain has surpassed Ethereum in growth since its launch in 2016, according to Electric Capital’s findings.

Despite Solana’s rapid growth, Ethereum remains the dominant blockchain by total number of developers across all major regions, including North and South America, Asia, Europe, and Africa. Solana follows closely behind as the second largest ecosystem for developers globally.

The report attributes Solana’s developer growth to a variety of factors, including increased network activity and user interest during the recent memecoin rally. Platforms like Pumpfun, which simplify memecoin launches, have played a key role in increasing engagement.

“Solana’s growth demonstrates the ecosystem’s ability to attract developers by offering high scalability and an active user base,” the report said.

Electric Capital’s analysis also revealed significant growth in other blockchain ecosystems, with Aptos, Base, Bitcoin, Internet Computer, NEAR, Polkadot, Polygon, Starknet, and Sui each adding over 1,000 new developers in 2024. Meanwhile, networks like BNB, Optimism, Scroll, Stellar, and TON added 500 developers each.

*This is not investment advice.