Solana surpasses Ethereum as fastest growing crypto ecosystem in terms of new developers: Electric Capital

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The Block2024/12/11 16:00

By:The Block

Quick Take Of the 39,148 new developers that entered crypto this year, 7,625 built on Solana, representing an 83% jump in year-over-year growth. However, Ethereum remains the top blockchain by developer share, with Solana following second.

Solana surpasses Ethereum as fastest growing crypto ecosystem in terms of new developers: Electric Capital image 0

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 content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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