The number of cryptos developers increases for the first time since 2017
In 2020, there has been a new influx of cryptos developers into the ecosystem. The projects that benefit the most are Ethereum, Polkadot, Tezos and Cardano.
The analysis comes from Electric Capital, which has published a comprehensive report on cryptos developers. What is immediately noticeable is that the Crypto Code number of people who have contributed to cryptos projects is on the rise again in 2020.
The peak had indeed been reached in 2017, when the ICO craze was still driving the sector. Then the „winter of cryptos“ had slowed down the development of many projects in 2018. Cryptos developers were then less involved in the ecosystem:
As we can see, we are still far from the number of developers who used to participate in the ecosystem, but they are coming back: they are increasing by +15% in 2020. This shows the dynamism that surrounds certain projects.
Cryptos developers focused on a small number of projects
As the report states, the increase in the number of cryptos developers seems less disordered than in 2017. Indeed, they are now concentrating on a few quality projects, rather than on a wide variety of altcoins. The proof is that for the 200 largest projects (excluding Bitcoin and Ethereum), the number of developers is increasing by +13%… While it is dropping by 30% for the other projects.
If we compare the number of cryptos developers in the third quarter of 2019 with the third quarter of 2020, several big winners emerge. Unsurprisingly, Ethereum (ETH) is progressing enormously, with 300 more developers than last year. It is followed by Polkadot (DOT), Tezos (XTZ) and Cardano (ADA), whose number of developers has also jumped this year.
EOS, XRP and Steem lose developers
Significantly, the number of cryptos developers dedicated to Bitcoin (BTC) remained broadly the same from 2019 to 2020. A big loser also emerged from the year: Eos (EOS), whose number of developers fell sharply. Other projects also experienced a significant exodus, including the XRP of Ripple, Steem and Waves.
The Electric Capital report therefore shows a trend that has been observed elsewhere in the ecosystem: 2020 was a year of consolidation for large-scale cryptomoney projects… If we exclude the decentralised finance sector (DeFi) of course. The latter is experiencing a new influx, with 67% more cryptos developers since January 2020. Still, we can now sense that the largest projects are now firmly established, and that the giants of the sector are gradually taking shape.