What happened?
The latest report shows that Asia has surpassed North America in the proportion of talent in the field of cryptocurrency and blockchain development, becoming the main region for developers globally.
According to data from Maria Shen, a partner at blockchain venture capital firm Electric Capital, the proportion of Asian cryptocurrency developers in 2024 has increased from 13% in 2015 to 32% in 2024, making it the region with the most developer talent, while North America has significantly decreased from 44% in 2015 to 24%.
Despite the slow growth of developers in the Web3 industry, experts believe that with time and opportunity, the global pool of professional talent will continue to increase.
Asian cryptocurrency developers surge to 32%, while the US declines to 24%
Electric Capital released its 2024 developer report, analyzing data from over 20 billion GitHub records and data from 110,000 active developer wallets globally. The data shows that Asia has surpassed North America, becoming the leader in cryptocurrency and blockchain developer talent.
Maria Shen recently posted on the X community platform, pointing out that Asia is now leading in cryptocurrency developer talent, while American developers are rapidly declining.
Developers in North America have decreased from 44% in 2015 to 24% in 2024, a decrease of over 50% compared to 2015. This shift not only impacts the technological development of the United States but also provides an opportunity for Asia to seize innovative opportunities.
In recent years, the number of Asian developers has been gradually increasing, demonstrating the growth potential in the field of blockchain innovation. The increase in developers is crucial for promoting the widespread adoption of blockchain technology.
Shen further analyzed that the main reason for the loss of American cryptocurrency developers is the strict regulatory policies on cryptocurrency technology in the United States, reflecting the weakening competitiveness of related industries in the United States.
However, despite the declining proportion of developers in the United States, the country (18.8%) still has the most developers globally. According to the report, approximately 18.8% of cryptocurrency developers worldwide are located in the United States, followed by India at 11.8% and the United Kingdom at 4.2%.
Number of Web3 developers declines, experts optimistic about long-term growth potential
Due to the higher entry barriers and steep learning curve in the Web3 industry, the growth rate of new developers in Web3 is slower compared to other industries.
The Electric Capital report stated that the total number of Web3 developers decreased by 24% in 2023, with new developers who have been in the industry for less than 12 months also decreasing by 53%.
However, Noëlle Becker Moreno, the Chief Marketing Officer of blockchain company Edge & Node, believes that with the industry’s tools and frameworks becoming increasingly mature, the number of Web3 developers is expected to rebound.
Noëlle believes that by providing more community collaboration and educational resources, new developers can overcome technical complexities and continue to progress in this rapidly growing ecosystem.
Furthermore, Ethereum remains the mainstay in the cryptocurrency development field, attracting over 16,000 new developers this year, while other platforms like Polygon are also becoming increasingly popular, showing that emerging platforms have greater potential in attracting new talent and expanding the ecosystem.
Reference:
cointelegraph, cryptonews
