Solana Surpasses Ethereum for New Devs: 83% Growth in 2024
Key Takeaways
- Solana surpasses Ethereum as the leading ecosystem for new developers in 2024, with 7,625 new contributors.
- Developer activity in crypto is increasingly global, with Asia dominating developer share and India leading new onboarding.
- Use cases diversify across chains: Solana excels in DEX usage and NFT transactions, while Ethereum maintains overall developer dominance.
For the first time since 2016, a blockchain ecosystem has surpassed Ethereum as the top choice for new developers. Electric Capitals 2024 Developer Report crowns Solana as the leader, with a staggering 7,625 new developers contributing.
The report underlines that in crypto, developers are among the most important metrics in the value creation chain. They build applications that attract users, thus creating a feedback loop: the more users, the more growth happens in the ecosystem.
This report analyzes nearly a billion code commits across 1.7 million repositories, reflecting the immense global collaboration lying behind crypto projects. But one of the standout pieces: at 83% year-over-year growth in new developer activity, Solana cements its position as a powerhouse for innovation in 2024.
Global and Diverse Adoption
Crypto is more globally distributed by developer activity than ever. It leads in the share of developers, outpacing North America, while India onboards the highest number of new contributors in 2024. The United States holds the top rank in countries, though it has been decreasing over time from its high of 38% in 2015 to 19% today.
The report emphasizes how crypto use cases vary with both region and time zone; NFT trading peaks during work hours in the United States, while the minting activity goes to Asia. Stablecoin transaction volume would remain consistent across parts of the world as their importance increases, hence, a circulating supply of $196 billion with $81 billion in daily transaction volume was recorded.
Solana Dominates DEXs and NFTs
Today, one in three developers work on multiple chains, compared to less than 10% in 2015. As the top ecosystem for developer activity overall, Ethereum may be losing steam, with Solana driving innovation for DEX and NFTs. On-chain transactions of DEX capture 81% in Solana, while 64% in NFT mint transactions occur on Solana, solidifying its place as the home of low-fee and high-speed applications.
The rest of the chains also posted some impressive gains. For instance, Ethereums EigenLayer created a whole new re-staking market for itself, adding $30 billion in TVL. Meanwhile, Bitcoin development also remains strong, with 42% of developers currently building scaling solutions.
The crypto ecosystems are in their period of rapid evolution; meanwhile, a lot of overt momentum is happening for multi-chain development and worldwide adoption. Solana is just one example of new top ecosystems for new developers to flock to-a symptom of the growing competitiveness and innovation in the space as the future continues to become so exciting.
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Read more: https://www.tronweekly.com/solana-surpasses-ethereum-for-new-devs/
Text source: TronWeekly
