{"id":41953,"date":"2022-01-06T15:31:14","date_gmt":"2022-01-06T15:31:14","guid":{"rendered":"https:\/\/developer-tech.com\/?p=41953"},"modified":"2022-01-06T15:31:16","modified_gmt":"2022-01-06T15:31:16","slug":"ethereum-most-web-3-0-developers-but-rivals-growing-faster","status":"publish","type":"post","link":"https:\/\/www.developer-tech.com\/news\/2022\/jan\/06\/ethereum-most-web-3-0-developers-but-rivals-growing-faster\/","title":{"rendered":"Ethereum still has the most Web 3.0 developers, but rivals are growing faster"},"content":{"rendered":"\n

Decentralised app platform Ethereum still has the most Web 3.0 developers, but it\u2019s all to play for with rivals growing faster.<\/p>\n\n\n\n

The data comes from research firm Electric Capital<\/a> which released a report this week into the Web 3.0 development ecosystem.<\/p>\n\n\n\n

Electric Capital found that more than 4,000 developers actively work on Ethereum per month. <\/p>\n\n\n\n

For comparison, just 680 developers actively work on Bitcoin per month. It\u2019s a huge disparity, but it\u2019s worth remembering that Ethereum is far more complex as a decentralised app (dapp) platform in addition to being a digital currency.<\/p>\n\n\n\n

Much is said about the \u201cnetwork effect\u201d of Ethereum, which is basically just its first-mover advantage. Ethereum has, by a significant margin, the most dapps and users.<\/p>\n\n\n\n

Courtesy of DefiLlama<\/a>, just take a look at the percentage of \u201ctotal value locked\u201d in Ethereum\u2019s decentralised finance (defi) ecosystem compared to other platforms:<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Developers are naturally enticed towards where the activity is, and right now that\u2019s Ethereum.<\/p>\n\n\n\n

However, Ethereum\u2019s position isn\u2019t necessarily as secure as it could seem. The whole space is still tiny compared to the centralised alternative services that it\u2019s attempting to disrupt and Ethereum has been plagued by slow transaction speeds and high fees.<\/p>\n\n\n\n

Competing blockchains were built from the ground up to address many of Ethereum\u2019s problems. Ethereum 2.0 should fix the platform\u2019s shortcomings, but it could be years before it\u2019s fully deployed.<\/p>\n\n\n\n

If you\u2019re a developer that wants scalability today without relying on a \u201clayer two\u201d solution like Polygon, you need to look at the competition.<\/p>\n\n\n\n

Polkadot, a rival blockchain platform designed by Ethereum co-founder Gavin Wood, has around 1,500 monthly active developers. Solana and Cosmos, two other promising rivals, have around 1,000 each. NEAR, Avalanche, Cardano, and Tezos all have more than 250 active developers.<\/p>\n\n\n\n

\u201cPolkadot, Solana, NEAR, BSC, Avalanche, and Terra are growing faster than Ethereum did at similar points in its history,\u201d wrote Electric Capital.<\/p>\n\n\n\n

Between December 2020 and December 2021, the researchers found that Solana\u2019s monthly active developers grew by 4.9 times, NEAR by 4x, and Polygon more than 2x. Cardano and Cosmos were a little behind with a 90 percent and 70 percent increase, respectively. Ethereum, meanwhile, grew by 42 percent.<\/p>\n\n\n\n

Staking Rewards<\/a> shows how much value users are \u201cstaking\u201d to help secure their favourite chains:<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

It\u2019s a fairly good indicator of user interest in each project and shows Solana quite comfortably ahead of Ethereum 2.0, while Cardano is only just about in second place. Despite Polkadot\u2019s relatively large number of monthly active developers, it\u2019s in sixth place behind Terra and Avalanche which are both emerging as major defi players.<\/p>\n\n\n\n

The good news for all Web 3.0 enthusiasts is that, across all chains, growth is continuing at a rapid pace. Exciting applications are now emerging beyond defi in areas like the metaverse, NFTs, gaming, DAOs, and more. <\/p>\n\n\n\n

65 percent of Web 3.0 developers joined in 2021 and made over 34,000 code commits to set a new record. Will you be among the 2022 class?<\/p>\n\n\n\n

(Photo by\u00a0Zoltan Tasi<\/a>\u00a0on\u00a0Unsplash<\/a>)<\/em><\/p>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n

Looking to revamp your digital transformation strategy?<\/strong> Learn more about Digital Transformation Week<\/a> taking place on 11-12 May 2022 and discover key strategies for making your digital efforts a success.<\/p>\n","protected":false},"excerpt":{"rendered":"

Decentralised app platform Ethereum still has the most Web 3.0 developers, but it\u2019s all to play for with rivals growing faster. The data comes from research firm Electric Capital which released a report this week into the Web 3.0 development ecosystem. Electric Capital found that more than 4,000 developers actively work on Ethereum per month. … Read more »<\/a><\/p>\n","protected":false},"author":1570,"featured_media":41957,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[54,7,1086,665,17],"tags":[569,985,289,356,1163,295,109,146,1164,288,164,1081,1169,1112,1165,240,193,1166,191,1168,1167,1109],"ppma_author":[1565],"acf":[],"yoast_head":"\nEthereum still has the most Web 3.0 developers, but rivals are growing faster<\/title>\n<meta name=\"description\" content=\"Decentralised app platform Ethereum still has the most Web 3.0 developers, but it\u2019s all to play for with rivals growing faster.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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