Developers are responsible for creating applications that will be useful to users of any project, and their performance either attracts more developers or repels them. Therefore, the number of developers in the project is not constant, as they turn on and off over time, and developer acceptance is a key indicator of the future value of the project.
Since interaction with developers is also a key indicator of the emerging platform, and the basic levels are open source, it turns out that the activities of developers can be easily analyzed and understood.
Electric Capital, an investment company interested in cryptographic companies and protocols, has analyzed changes in developers of large projects over the past year from June 2018 year to June 2019 year.
The analysis showed that during this time the quantity developers full-time employees, open source projects grew by 13%, despite the bear market of 2018 of the year. Most of this number comes from projects with high network costs, mainly in the top 100.
On the other hand, projects outside the top 100 have lost a number of developers, although 80% of them work part-time or once a month.
Ethereum is 18% of all cryptocurrency developers open source
An interesting takeaway from the analysis is that smart contracts, infrastructure, and decentralized finance (DeFi) are seeing an increase in the number of permanent developers working with them.
Ethereum, platform smart contracts has xnumx% of all this number, which means that 1 out of every 5 developers crypto programs open source working full time, works on Ethereum.
This amounts to a total of 1243 of 6842 active monthly developers in the cryptocurrency ecosystem who are actively working on improving smart contracts and Ethereum applications. As the number of active developers points to the future value of the project, Ethereum can become a platform with a bright future in the dapps and smart contracts subsector.
The whole ecosystem is getting stronger
Ethereum has a significant number of active developers working on its application, but its growth and strength is spreading throughout the cryptocurrency ecosystem.
An increase in the number of full-time developers, and a decrease in the number of part-time workers and infrequent developers, may indicate that the ecosystem is preparing to strengthen, and only dedicated developers work in it.
According to Electric Capital, the cryptocurrency ecosystem can grow to the size of large open source projects such as Apache, although this may take some time.