Solana is the best blockchain for new developers, according to a new developer report from venture firm Electric Capital.
According to the report, of the 39,148 new developers who began exploring cryptocurrencies this year, 7,625 were built on Solana, representing an 83% year-over-year increase in the number of developers on the network. The report stated that this is the first time since 2016 that the blockchain ecosystem has grown faster than Ethereum.
However, Ethereum remains the leading blockchain by total developer share across North and South America, Asia, Europe, and Africa. Solana ranked second in terms of number of developers across the region.
A variety of factors have contributed to the surge in developer interest in Solana, including a surge in network and user activity due to the memecoin rally after platforms like Pump.fun made it easier to launch memecoins.
According to a report from Electric Capital, by 2024, Aptos, Base, Bitcoin, Internet Computer, NEAR, Polkadot Polygon, Starknet, and Sui will all have more than 1,000 new developers. Additionally, BNB, Optimism, Scroll, Stellar, and TON gained 500 new developers.
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About the author
MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for publications covering all cryptocurrency-related news, preferring NFTs, metaverse, web3 games, fundraising, crime, hacking, and cryptocurrency ecosystem stories. MK holds a graduate degree from New York University’s Science, Health, and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. X You can follow MK at @MManoylov and on LinkedIn.