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Blockchain Developer Count Declines by 24% in 2023, Newcomers Drop by Over 50%

In a comprehensive 180-page research report, Electric Capital, a crypto venture firm, revealed that the overall number of monthly active crypto developers decreased by 24% from 29,611 in December 2022 to 22,411 in December 2023. The study noted a steady growth in the number of blockchain developers actively contributing to the space for more than a year, surpassing 10,000 individuals in 2024.

However, the count of newcomers, defined as developers with less than 12 months of experience, experienced a significant decline of 52% in 2023 compared to the previous year. This trend suggests that newcomers tend to enter the crypto space during periods of significant price rallies, such as the surge in Bitcoin to nearly $70,000 in 2022.

Ethereum maintained its position as the leading platform, attracting over 16,000 newcomers actively writing code in 2023. Other platforms like Polygon also gained developer interest. Surprisingly, Bitcoin ranked 13th on the list, alongside platforms like Internet Computer, Optimism, and BNB Chain. Among the ecosystems, Stellar emerged as the least preferred for newcomers, with only 248 developers contributing code in 2023.

Despite the global nature of the crypto industry, the U.S. experienced a decline in its standing, with the number of blockchain developers located outside the country surpassing the 70% mark in 2023. The U.S. saw a 14% decrease in developer share since 2018, accounting for only 26% of blockchain developers. In contrast, regions such as South Asia, Latin America, Eastern Europe, Western Africa, and Southern Europe collectively witnessed a 20% growth in developer share since 2018.

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