Blockchain technology is evolving at an unprecedented rate, and the developers building on it are the driving force of this transformation. From scaling decentralized applications (dApps) to building next-gen NFT platforms, Web3 developers are at the forefront. In 2024, the landscape of blockchain development is more dynamic and diverse than ever before, with new ecosystems, innovative use cases, and global adoption reshaping the industry.
The 2024 Crypto Developer Report dives deep into the heartbeat of this transformation analyzing 902 million code commits across 1.7 million repositories to create this report.
The community contributing to the report has grown 24x since 2019 with 339 people contributing in 2024. A total of 829 people have helped since its inception, providing critical insights that every Web3 developer needs to understand. Whether you're building on Ethereum, Solana, or a new ecosystem, this report sheds light on the trends, growth patterns, and emerging technologies that are defining the future of blockchain.
Are you ready to see what blockchain development was like in 2024? Let's dive in!
Key Insights from the 2024 Crypto Developer Report
The 2024 Crypto Developer Report highlights key trends in blockchain development, focusing on the rise of experienced developers, innovations in technology, and the growth of decentralized finance (DeFi).
1. Developers Are the Backbone of Blockchain Growth
Over 39,148 new developers joined the industry, and experienced developers (with 2+ years of experience) grew by 27% year-over-year and now make up 70% of all code contributions, building tools, apps, and protocols that make blockchain work and drive innovation. By creating decentralized applications (dApps) and improving blockchain systems, they help make the technology more accessible, secure, and efficient. Their efforts attract users and open up new possibilities, pushing blockchain into mainstream use. As the technology evolves, developers will continue to solve challenges and unlock new opportunities, ensuring the continued growth and adoption of blockchain.
Key Trends in Developer Activities
The Developer Flywheel: The Developer Flywheel is a cycle where developers create applications that address real-world problems and offer valuable solutions. These apps attract users, driving adoption and engagement within the ecosystem. As more users join, the demand for new features, improvements, and innovative solutions grows, encouraging even more developers to contribute. This growing developer activity leads to the creation of more apps, further enhancing the ecosystem and its value, which in turn attracts more users. The continuous interaction between developers, users, and new applications accelerates the growth and evolution of the ecosystem, creating a self-reinforcing loop of innovation.
Open-Source Collaboration: Blockchain thrives on open-source collaboration, where developers from across the globe can contribute to its growth by sharing code, ideas, and improvements. This openness fosters a transparent environment, allowing for constant scrutiny and rapid innovation. Developers can build on existing frameworks, create new features, and quickly address security vulnerabilities, accelerating the evolution of blockchain technology. The collaborative nature of open-source projects encourages diverse contributions, ensuring that blockchain solutions are adaptable, scalable, and continuously improving to meet the demands of users and the broader ecosystem.
Experienced Developers Lead the Way: Experienced developers now account for 70% of blockchain code commits, showcasing their pivotal role in shaping the industry. Their leadership sets development standards, drives innovation, and ensures blockchain technology remains robust and adaptable to future demands. This expertise not only advances technical progress but also influences strategic decisions, solidifying blockchain’s foundation for sustained growth.
2. Asia Takes the Lead in Blockchain Development
In 2024, Asia emerged as the dominant force in blockchain development, surpassing North America in both developer activity and blockchain-related innovations, with North America dropping from number 1 to Number 3. This shift is driven by a combination of supportive government policies, an expanding talent pool, and a rapidly growing number of blockchain startups.
Here’s why Asia is leading the charge in the blockchain space:
Government Support and Policy Asia's governments have been early adopters and champions of blockchain technology. Countries like China, Singapore, and South Korea have introduced blockchain-friendly regulations and policies that encourage innovation. Governments are investing in blockchain infrastructure, creating public-private partnerships, and offering tax incentives to developers and startups.
Singapore's Payment Services Act (PSA), introduced in 2019, provides a coherent regulatory framework for digital payment token services, including licensing and exemptions. South Korea enacted the Virtual Asset User Protection Act in July 2023, establishing a regulatory framework for digital assets, with the act scheduled to take effect in July 2024. These initiatives demonstrate a commitment to fostering a supportive environment for blockchain development.
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Access to a Large Talent Pool
Asia is home to some of the world’s largest and most innovative tech hubs, such as Singapore, Seoul, and Bangalore. These cities have vast pools of highly skilled developers, many of whom are entering the blockchain space. Universities and technical institutes across Asia are offering specialized courses in blockchain development, ensuring that the talent pipeline remains strong.
Strong Investment in Blockchain Projects Venture capital in Asia is flowing heavily into blockchain and crypto projects. This influx of investment has enabled the region to nurture blockchain startups that are creating real-world decentralized solutions. Governments and private entities are backing the growth of blockchain in industries like finance, healthcare, and logistics, which further accelerates adoption.
India’s Role in Onboarding New Developers India is leading the charge in onboarding new crypto developers, with 2024 seeing the largest influx of developers into the blockchain space. The country is witnessing a boom in blockchain education, with universities offering blockchain-focused courses and certifications. India’s tech ecosystem has fueled this growth, making it the largest market for blockchain talent in Asia.
The U.S. Declines While Asia Surges According to the Developer Report, While the U.S. once held the majority of blockchain developers, Asia has surpassed it in recent years. The U.S. saw its share of global developers drop from 38% in 2015 to 19% in 2024. In contrast, Asia’s blockchain development ecosystem continues to expand, driven by factors like regulatory clarity, government support, and strong developer communities in countries like China, India, and Singapore.
Stablecoins and NFTs: The Regional Trends Asia is particularly active in the adoption of stablecoins and NFTs, with countries in the region embracing these technologies for various applications. Stablecoin transactions are especially popular for cross-border payments, and Asia dominates the minting of NFTs, especially in the gaming sector. These trends reflect the region’s diverse use cases for blockchain beyond just financial transactions.
Asia’s Global Impact on Blockchain Ecosystems Blockchain ecosystems like Ethereum, Solana, and Binance Smart Chain have all seen a significant increase in developer activity from Asia. Solana, in particular, has gained popularity for its low transaction fees and scalability, attracting many developers in the region. Ethereum remains dominant, but new ecosystems like Base are also seeing substantial growth.
The Future of Blockchain Development in Asia Looking ahead, Asia’s dominance in blockchain is set to continue. Governments are investing in blockchain infrastructure, and the region is increasingly becoming the center of cross-border blockchain projects. The combination of government backing, a strong talent pool, and a growing number of blockchain startups ensures that Asia will continue to lead in blockchain innovation.
Asia is not just leading in blockchain development; it is shaping the future of decentralized technologies. The region’s governments, developers, and investors are working together to build a blockchain ecosystem that is poised to drive the next wave of innovation in Web3. With countries like India onboarding the most new developers, and leading blockchain ecosystems flourishing across Asia, the region is on track to remain the global leader in blockchain development for years to come.
3. Multi-Chain Development Gaining Momentum
Developers are increasingly working across multiple blockchain ecosystems, focusing on interoperability and flexibility.
Multi-chain development allows developers to take advantage of the strengths of different ecosystems. This innovation enhances the blockchain industry’s ability to tackle real-world problems.
Key Highlights of Developments
In 2024, according to the Developer Report, cross-chain activity has become a cornerstone of blockchain development, with one in three developers contributing to multiple blockchain ecosystems. This marks a significant leap from less than 10% in 2015, reflecting a growing shift toward interoperability and collaboration across networks. Developers are no longer confined to single ecosystems but are leveraging the unique strengths of various blockchains to create versatile solutions. This trend underscores the increasing maturity and interconnected nature of the blockchain space, where diverse ecosystems work together to address real-world challenges and foster innovation.
Ethereum continues to dominate as the global leader in blockchain development activity. Its comprehensive suite of development tools and an active, supportive community make it the preferred choice for developers worldwide. Ethereum’s long-standing reputation as the foundational platform for decentralized applications ensures its relevance, even as newer competitors emerge. The blockchain’s ability to continuously innovate, particularly through developments like Ethereum 2.0 and its scalability improvements, solidifies its position as a central pillar in the blockchain industry.
Meanwhile, Solana is experiencing unparalleled growth, with its developer base expanding by an impressive 83% year-over-year. This rapid ascent highlights the platform’s appeal, particularly for projects prioritizing speed and affordability. Solana’s low transaction fees and high throughput capabilities make it an attractive option for developers building applications that require efficiency and scalability. As detailed in the Electric Capital Developer Report, Solana’s momentum is indicative of its growing influence in the blockchain space, positioning it as a key player in the evolving multi-chain ecosystem.
4. Innovations in Ecosystem-Specific Use Cases
Innovations in ecosystem-specific use cases have propelled blockchain adoption by leveraging the strengths of individual ecosystems to address specific needs. These innovations are shaping the future of decentralized technologies, particularly in areas like NFTs, decentralized exchanges, and blockchain infrastructure.
Highlight of Ecosystem Specific Innovations Base has emerged as a dominant force in the NFT ecosystem, processing an impressive 97% of all NFT minting volume. Its efficiency and affordability as a Layer 2 solution on Ethereum make it particularly appealing for creators and developers. This widespread adoption highlights its ability to democratize access to the NFT economy, allowing creators with limited resources to participate in minting digital collectibles, gaming assets, and tokenized items. Meanwhile, Solana has solidified its position as the leading platform for NFT transactions, handling 64% of all trading activity. Its high throughput and low transaction costs create a seamless trading experience, especially for high-frequency users. These attributes make Solana the preferred choice for projects requiring scalability, such as gaming and entertainment platforms.
Decentralized exchanges (DEXs) have also seen significant ecosystem-specific advancements. Solana leads in this space, capturing 81% of all DEX transactions and hosting the highest number of unique trading wallets. Its speed and cost-effectiveness make it an ideal platform for traders and liquidity providers, supporting innovations like on-chain order books and lightning-fast swaps. On the other hand, Base is experiencing rapid growth, ranking second in unique trading wallets. This positions it as a strong contender to challenge Solana in the DEX market. Base’s interoperability with Ethereum and focus on user experience attract developers and traders, indicating a promising future for its decentralized finance (DeFi) applications.
The blockchain space is also witnessing groundbreaking innovations. EigenLayer’s introduction of restaking models has significantly impacted Ethereum’s ecosystem, adding $30 billion in total value locked (TVL) and boosting developer adoption by 130% in 2024. Restaking enhances capital efficiency by enabling staked assets to secure multiple protocols, reducing the costs associated with launching new projects. This innovation is paving the way for a more secure and scalable blockchain landscape, drawing developers to ecosystems that prioritize efficiency and security.
Stablecoins have also become indispensable to the blockchain economy, with $196 billion in circulation and $81 billion in daily transactions, according to Stable Coin and CBDCs Report. Their reliability as a medium of exchange and store of value is driving adoption across financial services, remittances, and DeFi. They have become critical for enabling financial inclusion, especially in regions with limited access to traditional banking. Blockchain networks like Ethereum and Binance Smart Chain continue to lead in stablecoin integration, facilitating broader adoption and innovation.
These trends illustrate the dynamic nature of blockchain ecosystems, where platforms like Base and Solana dominate specific niches while emerging technologies like restaking and stablecoins transform the broader landscape. Together, these innovations are fostering competition, collaboration, and significant real-world impact, driving the next wave of blockchain adoption.
Conclusion
The 2024 Crypto Developer Report reveals a thriving blockchain ecosystem that is becoming more global, interconnected, and innovative. From Asia’s rise as a developer hub to the growth of multi-chain collaboration, the report highlights significant milestones shaping the industry.
Blockchain developers are driving technological advancements and solving real-world problems, paving the way for a decentralized future. Understanding these trends is essential for anyone looking to succeed in the blockchain space.
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