Friday, February 23, 2024

Solana Developer Surge: Ecosystem Reaches Over 2,500 Monthly Actives.

The Solana Foundation has released data showing that over 2,500 developers are active each month in the Solana ecosystem.

Solana stated in a report released on January 9th, 2023, that its network had sustained 2,500–3,000 active developers each month for the past year. The research evaluated important network parameters.

It added, but pointed out that the measurement only takes into consideration developers who contribute to public repositories. “Maintaining a consistent number of developers is an important indicator of a healthy ecosystem, as it showcases the ecosystem’s ability to attract and retain new talent,” the statement read.

But according to information from Electric Capital’s blockchain development tracker Developer Report, as of October 1, 2023, Solana had just 946 developers, down from an all-time high of 2,634 on December 22, 2022.

The Developer Report generates data points about blockchain developer activity by citing data from GitHub. But those figures just covered October 1. An Electric Capital representative informed Cointelegraph that the updated fourth quarter data would be available the following week.

Conversely, according to data from Electric Capital, the total number of active developers on Ethereum each month was 5,769 on October 1, 2023, a 22% decrease from its peak of 7,433 on June 16, 2022.

In the meantime, Solana’s developer retention has risen by 50% in the last three months, which is in line with the network’s continuous surge in activity and the rising price of the native Solana (SOL $101) token.

Solana saw an extraordinary 500% price increase from October to December, driven by a fervor for SOL-based memecoins. This surge allowed it to momentarily overtake Binance’s BNB (BNB $305) token and rank fourth in terms of market capitalization on December 22. A few days later, on December 26, Solana reached its annual high of $122.

In the same month, the network saw a sharp spike in activity that momentarily overtook Ethereum in 24-hour decentralized exchange volumes.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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