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Electric Capital Releases 2021 Developer Report

Electric Capital Releases 2021 Developer Report

Electric Capital released their 2021 Developer Report, the industry standard for understanding the landscape across crypto developer ecosystems. We analyzed nearly 500K code repositories and 160 million code commits to create the 2021 Electric Capital Developer Report.

Crypto developer activity reached an all-time high in 2021

2021 was an exciting year across Layer 1s, DeFi, and the entire blockchain ecosystem. A few key insights:

  1. 2021 reached an all-time high of over 18K monthly active developers
  2. 65% of active developers in crypto joined in 2021
  3. Ethereum, Polkadot, Cosmos, Solana, and Bitcoin were the 5 largest developer ecosystems
Crypto developer activity reached an all-time high in 2021
Crypto developer activity reached an all-time high in 2021

Ethereum and Bitcoin continue to grow

Ethereum and Bitcoin added developers in 2021, growing by 42% and 9% respectively. Ethereum continues to have the largest ecosystem of tools, apps, and protocols, with a developer community 2.8x the size of the 2nd largest ecosystem. Ethereum draws 20% of total new crypto developers, and has the best retention of developers who stayed beyond year 4.

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Which ecosystems are growing the fastest?

Ethereum, Polkadot, Cosmos, Solana, and Bitcoin were the 5 largest developer ecosystems in 2021. Solana broke out with 5x growth, while NEAR moved up to the 6th largest ecosystem with 4x+ growth. Polygon, Binance Smart Chain and Cardano all more than 2x-ed their ecosystems in 2021.

Polkadot, Solana, NEAR, BSC, Avalanche and Terra are growing faster than Ethereum at the same point in its history.

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About Electric Capital

Electric Capital is a leading Web3 and blockchain early stage venture firm. We invest in cryptocurrencies, blockchain based businesses, fintech companies, and marketplaces. Our team of founders and builders compiles code, analyzes blockchains, profiles nodes, helps secure cryptonetworks, and generally contribute to the crypto community. The annual Electric Capital Developer Report is the industry standard for understanding the developer ecosystems across cryptonetworks. Electric Capital and its founders have invested in crypto companies such as Anchorage, Bitwise, Celo, Coda, DerivaDex, Elrond, dYdX, Lightning Labs, Mobilecoin, Oasis, and NEAR.

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[To share your insights with us, please write to sghosh@martechseries.com]

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