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4% of All Blockchain Developers Globally Are in Sub-Saharan Africa, Says 2023 Developer Report
South Asia, Latin America, Eastern Europe, Western Africa, and Southern Europe collectively gained a 20% share of developers since 2018, emerging as new hubs for crypto innovation.
Cryptocurrency projects experienced 22,411 monthly active open-source developers in 2023, the latest developer analysis by Electric Capital shows.
While this number marked an overall 24% decrease in the number of developers, a resilient segment comprising seasoned developers with over 2 years of tenure and significant code contributions is on a steady rise.
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According to the report by Electric Capital developers with more than 2 years of experience, reached an all-time high with an impressive 52% annualized growth over the past five years. However, the flip side reveals a stark contrast, as newcomers to the crypto space experienced a significant -52% YoY drop, raising questions about the factors influencing their entry and retention.
One of the most notable shifts is the industry’s move towards multi-chain development is that 30% of developers now support more than one blockchain, a tenfold increase from 2015. The trend extends further, with 17% of developers endorsing three or more chains in 2023, marking an all-time high.
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This shift underscores the industry’s growing complexity and the need for developers to adapt to diverse blockchain ecosystems.
The growth in developer numbers is not uniform across projects, emphasizing a nuanced landscape where developers are discerning about the projects they choose to contribute to. This ‘voting with their feet’ phenomenon reflects a dynamic ecosystem where developers seek projects that provide real utility and align with their vision for the future of blockchain technology.
In a clear sign of decentralization, the global distribution of crypto developers is evident. The U.S, once a dominant player, has seen a 14% decline in developer share since 2018, now comprising only 26% of the crypto developer community.
Conversely, South Asia, Latin America, Eastern Europe, Western Africa, and Southern Europe collectively gained a 20% share of developers since 2018, emerging as new hubs for crypto innovation.
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The share of African developers increased by a percentage point from the 3% point reported in 2022.
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As the crypto space continues to evolve, these trends highlight the industry’s resilience, diversification, and globalization. The decentralization of development talent and the rise of multi-chain development open doors to collaboration and cross-cultural exchange.