Electric Capital has released its 2022 Developer Report, providing insight into the crypto developer landscape. The report is based on 250 million code commits across open-source repositories. Despite a significant decline in prices, the report shows that crypto monthly active developers grew by 5% year-over-year in 2022. As of December 2022, there are 23,343 monthly active developers in crypto, with over 471,000 monthly code commits made towards open-source crypto.
The report also highlights that the crypto network value is back at January 2018 levels, but monthly active developers have increased by 297% since then. Bitcoin and Ethereum saw significant growth in monthly active developers, with 3x growth for Bitcoin and 5x growth for Ethereum. Additionally, other ecosystems such as Solana, Polkadot, Cosmos, and Polygon experienced substantial growth in the number of developers.
The emergence of major ecosystems beyond Bitcoin and Ethereum is also a key finding in the report. Seventy-two percent of monthly active developers work outside of these two ecosystems. Solana, NEAR, and Polygon, for example, have seen a 40% year-over-year growth and have over 500 total monthly active developers. The DeFi and NFT sectors have also experienced significant growth in developer engagement.
Electric Capital has created a website, DeveloperReport.com, to showcase the data and provide a transparent source for the community. The aim is to add more visualizations, data, and real-time updates to the website. The report also emphasizes the importance of developer engagement as an indicator of value creation in emerging platforms.
The Developer Report is an open-source effort, with over 250 contributors adding repositories to the Crypto Ecosystems Github. Electric Capital is a leading crypto venture firm that invests in various crypto projects. For more information, visit ElectricCapital.com.