Crypto: Solana Outpaces Ethereum In The Talent Race

The tug of war between Solana and Ethereum is intensifying, and neither competitor seems ready to back down. While Solana continues to showcase its potential as a serious rival with an aggressive strategy, Ethereum maintains its position as the undisputed leader of the sector. But behind this rivalry lies a surprising trend: in 2024, Solana attracted more new crypto developers than Ethereum, marking a historic turning point in the blockchain universe.

Solana vs Ethereum: a race for developers

The Solana news: in 2024, the Solana blockchain attracted no less than 7,625 new developers, surpassing Ethereum for the first time since 2016. With a 83% increase in its new recruits, Solana capitalized on its strengths: low fees and unbeatable transaction speed.

Meanwhile, Ethereum saw its number of monthly active developers drop by 17%, stabilizing at 6,244.

https://twitter.com/solana/status/1867293400388841604

Despite this decline, Ethereum remains the blockchain with the largest number of developers in the world. A large portion of this activity comes from layer 2 solutions, such as Optimism and Arbitrum, which account for 56% of Ethereum developers.

Maria Shen, partner at Electric Capital, highlights:

« Ethereum thrives due to its deep network effects, and the data confirms it ».

Some significant figures from 2024:

• Solana: +1,000 developers more than Ethereum.
• Record increase of 167% for Eigenlayer, an innovative project on Ethereum.
• Moderate decline of full-time developers on Ethereum (-4%).

If Solana continues to make giant strides, Ethereum remains a behemoth that even its most ambitious rivals struggle to dislodge.

Crypto and blockchain: an increasingly global landscape

Beyond this rivalry, the Electric Capital report reveals a global transformation in the crypto developer sector. Asia surpassed North America in 2024, becoming the primary hub for blockchain talent. With India accounting for 17% of new developers, the Asian continent perfectly illustrates this reshuffling of the deck.

In the United States, however, not all is lost: the country still retains 19% of the total active crypto developers. However, Maria Shen notes that « crypto is designed to be borderless », calling for greater global diversity.

The rise of developers in Asia is partly based on a series of local initiatives: hackathons, technical training, and community support. This global expansion promises to make the blockchain ecosystem even more robust while enhancing the competition to attract the best talent.

In this record year for Solana, 2024 will be remembered as a crucial milestone. Yet, investors always want more. As December comes to a close, they closely scrutinize the developments of their favorite blockchain, ready to anticipate the next trends.