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According to the latest data, Solana (SOL) has overtaken Ethereum as the top destination for new developers in 2024, breaking Ethereum’s eight-year dominance in the space.
According to a December 12 report by Electric Capital, Solana saw 7,625 new developers join its ecosystem this year, surpassing Ethereum’s 6,456. The surge was driven largely by increased developer activity in Asia.
Solana’s
momentum began in July, when it officially outpaced Ethereum in onboarding new developers for the first time since 2016. This trend continued through the remainder of 2024, with Solana’s developer activity growing by 83% year over year.
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Solana Data Flips Ethereum On More Occasions
Notably, Solana also briefly surpassed Ethereum on two significant occasions. On March 18, Solana’s network activity exceeded Ethereum’s due to heightened demand for Solana-based meme coins.
Later, on October 28, Solana’s daily network fee generation surpassed Ethereum’s for a 24-hour period.
While Solana’s growth is remarkable, Ethereum remains the leading ecosystem for total developer activity. Despite a 17% decline in monthly active developers, Ethereum still boasts 6,244 active contributors.
Additionally, Ethereum’s layer-2 networks have grown by 64% since 2021, and 26% of all monthly crypto developers are now working on these L2s and the mainnet.
One of the standout growth stories on Ethereum’s network is Eigenlayer, a key restaking protocol that saw a 167% increase in developer participation this year, making it the fastest-growing ecosystem in 2024.
Electric Capital’s report highlights the broader global growth of the crypto developer community. In 2024, 39,148 new developers entered the crypto space, representing a 7% decline from 2023’s figures but still a significant global presence.
Africa, South America, and Asia saw notable increases in developer activity, with Asia emerging as a key hub. The report reveals that 1 in 3 developers globally now resides in Asia, with India being a major contributor to the region’s growth in developer onboarding.
Meanwhile, crypto’s influence spans all time zones, with varied regional preferences for crypto use cases.
Stablecoin transactions are most active during daylight hours in Asia, Europe, and Africa, while NFT trading peaks during American work hours. NFT minting, on the other hand, sees its highest activity during Asia’s workday, reflecting regional differences in usage.
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Prominent Ethereum Researcher Joins SOL
Earlier this week, prominent blockchain researcher Max Resnick announced that he has shifted from Ethereum infrastructure firm ConsenSys to SOL-focused R&D company Anza.
Announcing his move on December 9 via X, Resnick expressed excitement about his new role, stating, “I’m taking my talents to Solana.”
Last week was my last week at Consensys. Today is my first day at @anza_xyz.
I’m taking my talents to Solana.
In my first 100 days, I plan on writing a spec for as much of the Solana protocol as I can get to, prioritizing fee markets and consensus implementations where I…
— Max Resnick (@MaxResnick1) December 9, 2024
Resnick previously led research at ConsenSys’ Special Mechanisms Group, where he voiced support for alternative scaling models.
At Anza, Resnick will focus his first 100 days on technical specifications for Solana’s fee markets and consensus mechanisms—two areas he sees as crucial for making a lasting impact.
Anza, best known for developing Solana’s Agave client, aims to improve the blockchain’s resilience and uptime, both vital to its long-term sustainability.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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