Crypto prices suffered badly in 2022, but developer activity for the year paints a more optimistic picture for investors. New data published by Electric Capital Tuesday shows Ethereum had the largest number of full-time developers in 2022 at 1,873, as of Dec. 15. That puts developer growth at 9% for the year, the report showed, even as the price of ether dropped 67%, according to Coin Metrics. Ethereum rivals like Polkadot and Solana followed closely behind, showing growth of 9% and 36%, respectively. For Solana, that growth came despite the network facing a make-or-break moment in the wake of the FTX scandal. Its price collapsed 50% last year, but the strength of its developer community gave investors hope it would pull through. Meanwhile, bitcoin’s developer population shrunk 4%, though it’s still the fifth largest in the market at 300 full-time builders. “Crypto is much more than Bitcoin from a developer perspective,” said Avichal Garg, co-founder of Electric Capital, which invests in early stage crypto and fintech companies. “Bitcoin is like a digital commodity; it wasn’t really, as a platform, designed for ease, extensibility and to build on.” He added that although Bitcoin may be the most decentralized network in crypto, 90% of developers are building on other blockchains. The Stacks ecosystem, which is dedicated to building a smart contracts layer for DeFi, NFTs and other decentralized apps on Bitcoin, saw a 20% decline in full-time developers. Why it matters for…
, To read the original article from news.google.com Click here
Amazon.com Inc, Bitcoin, business news, cryptocurrency, Ethereum, Goldman Sachs Group Inc, Investment strategy, Markets, Stock markets, Technology
Private Internet Access gives you unparalleled access to thousands
of next-gen servers in over 83 countries and each US state. Your
VPN experience will always be fast, smooth, and reliable.
