What happened?
The latest report shows that the proportion of talent in the field of cryptocurrency and blockchain development in Asia has surpassed North America, becoming the leading region for developer talent globally.
According to data from Maria Shen, a partner at blockchain venture capital firm Electric Capital, the percentage of cryptocurrency developers in Asia has increased from 13% in 2015 to 32% in 2024, making it the region with the most developer talent, while North America has dropped significantly from 44% in 2015 to 24%.
Although the growth rate of developers in the Web3 industry is slow, experts believe that with time and opportunities advancing, the global pool of professional talent will continue to increase.
Asia’s share of cryptocurrency developers soars to 32%, while the US falls to 24%
Electric Capital released the 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 to become the leader in cryptocurrency and blockchain developer talent.
Maria Shen recently posted on the community platform X, stating that Asia is now the leader in cryptocurrency developer talent, while developers in the United States are rapidly declining.
Developers in North America have dropped from 44% in 2015 to 24% in 2024, a decrease of over 50% compared to 2015. This shift impacts not only the technological development in the United States but also provides Asia with the opportunity to seize innovative advantages.
In recent years, the number of developers in Asia has gradually increased, 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 cryptocurrency developers in the United States is the strict regulatory policies on cryptocurrency technology, reflecting the weakening competitiveness of related industries in the United States.
However, despite the annual decline in the percentage of developers in the United States, the United States (18.8%) remains the country with the most developers globally. According to the report, approximately 18.8% of cryptocurrency developers 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 curves 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 a 53% decrease in new developers who have been in the industry for less than 12 months.
However, Noëlle Becker Moreno, Chief Marketing Officer of blockchain company Edge & Node, believes that as industry tools and frameworks continue to mature, the number of Web3 developers is expected to rise.
Noëlle believes that by providing more community collaborations 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 field of cryptocurrency development, attracting over 16,000 new developers this year, while other platforms such as Polygon are becoming increasingly popular, indicating greater potential for emerging platforms to attract new talent and expand the ecosystem.
Reference:
cointelegraph, cryptonews