Electric Capital, a cryptocurrency venture capital firm, found in a report that the number of developers working on the Ethereum blockchain dwarf any other blockchain platform, including Bitcoin and EOS.
The ‘Developer Report’, which was published yesterday, is a follow-up to a report in March and investigates the code activity in all open-source repositories in cryptocurrency. It aims to analyse the trends of code contributors to blockchain projects, a significant chunk of whom left the market during the ‘Crypto Winter’ of 2019. The main takeaway is that 77% of the developers who left were the least committed contributors, who were doing the least amount of work. Moreover, they were mainly part of the least promising projects, with the top 100 projects only losing 4% of their total developers.
Ethereum has the most developers
The report found that Ethereum is a significant outlier due to the number of developers it has retained and hired. It now has the largest contributor base, with Bitcoin being second. In fact, of all the developers evaluated in the report, a whopping 18% worked on Ethereum. The exact number of developers in June 2019 was 1,243.
Ethereum has actually gained developers since June 2018, increasing its ranks by 79 developers.
As the image shows, Ethereum is a clear outlier compared it all other blockchain ecosystems, including Bitcoin.
Members of the Ethereum community were happy with the data, but some argued that the real number of developers is actually much higher than what is reported. This is because many cryptocurrency projects are based on the Ethereum platform. This includes BAT, which was counted as a separate project in the report. Therefore, it is possible that close to a majority of developers in cryptocurrency is working on Ethereum or a decentralised application (DApp) on Ethereum.
It seems that the report analyses commits registered on the Ethereum Github. A user on Reddit believed that if developer activity in each chain’s ecosystem is analysed, the number will be even more extreme.