Top Crypto Developer Trends of 2024

This was a huge year for crypto, not only because of investor excitement, but because crypto developers kept driving the space forward.

Plenty of trends surfaced this year around developer onboarding and activity. The newly released 2024 Crypto Developer Report by Electric Capital gives us a snapshot of developer activity in the crypto space and sheds light on key trends and shifts. 

Let’s break down 10 of the insights from this year’s report that stuck out to us most👇

💪 Monthly Active Developers Staying Strong

The crypto developer community continues to thrive, despite post-FTX setbacks that caused downtrends in 2022 and 2023.

Zooming out, monthly active developers continue to surge on an annualized basis since 2015, but also found stability during the tail-end of challenging crypto winter that saw a regulatory onslaught of unprecedented proportions which now appears to be well behind us.

🌎 Developers Are Spreading Globally

Developer activity is on the rise globally, with growth in regions like Asia, South America, and Africa. While DeFi initially thrived in more developed regions such as North America and Europe, the developer space has become global.

Emerging markets are seeing a surge in blockchain developers, highlighting a broader embrace of decentralization. With low-cost transactions and tokens that retain value, blockchain technology offers a viable solution for areas with less stable financial systems. It’s no surprise that places facing these challenges are adopting crypto at a growing pace.

👯 Ethereum and Solana Stand Alone

Ethereum continues to lead the pack in active developers, holding the largest developer share across every continent. Its strong community, abundant liquidity, tools, and widespread EVM compatibility have solidified its position as the hub for developers.

Solana takes the number two slot. Its appeal lies in offering low-cost, fast transaction times on the L1, creating a predictable user experience. With Solana ranked second in total value locked by chain as well, developers don’t have to worry about liquidity constraints, further boosting its attractiveness as a development hub.

🏃‍♂️ Alt L1s Picking Up Traction

While Ethereum and Solana dominate the L1 landscape, ecosystems like Aptos, Internet Computer, and Sui are gaining attention. Each of these chains attracted over 1,000 new developers in 2024, signaling excitement in a crowded landscape.

This trend reflects developers’ recognition that users may prefer alternatives to Ethereum or Solana. By building on these emerging platforms, developers offer users greater choice, allowing them to select chains that align with their needs.

👁️ Base and Solana Saw Gains in Full-Time Devs

While attracting new developers is crucial, retaining them is even more significant. In 2024, Bitcoin saw a 6 percent decline in full-time developers while Ethereum experienced an 8 percent decline according to the report. Meanwhile, ecosystems like Base and Solana achieved double-digit percentage growth in full-time developers since last year.

↗️ Ethereum L2s On The Rise

Layer 2 solutions are experiencing a notable surge in developer activity. Since 2021, the percentage of developers transitioning from Ethereum to its L2s has more than doubled.

Developers have embraced the trend that users are seeking cheaper and faster alternatives to Ethereum, without compromising its security. These L2s meet that demand while also being EVM-compatible, simplifying the process for developers to deploy projects across multiple Ethereum L2s.

👌 ZK Contracts on the Rise

Zero-knowledge contract development is gaining traction among developers. Developers are increasingly adopting the ZK trend, recognizing its potential to shape the future of smart contracts. As the deployment of ZK contracts continues to grow, developers will be able to share insights and refine the technology, bringing it to users faster than anticipated.

🪖 DeFi Shows Resilience

DeFi remains a key part of the crypto ecosystem. Despite regulatory challenges and fluctuations in token prices, developers continue to enter the space with double-digit annualized percentage growth since 2020, the continued optimism among developers and investors signals sustained confidence in the crypto market.

🤝 Need For Interoperability Heightens

In 2024, more developers are contributing across multiple blockchains. This reveals a growing trend of multi-chain development. This shift reflects the increasing importance of interoperability. As more blockchains emerge, developers are looking to create applications that work seamlessly across different chains, leading to a more connected and efficient network. 

🤲 The Power of Open-Source

At the heart of the crypto industry is open-source development. The report highlights continued strong engagement with GitHub repositories, with tens of thousands of developers contributing to open-source projects over the past year.

Open-source development promotes transparency, helping to build trust within the community. It also enables developers to build on existing codebases, saving both time and resources. Instead of starting from scratch, developers can fork repositories and accelerate their projects.

This collaborative approach has been crucial in fostering innovation within the crypto space. Breakthroughs are readily available for anyone to explore, experiment with, and build upon.