According to the latest data, Solana (SOL) has overtaken Ethereum as the top destination for new developers in 2024, breaking Ethereum’s eight-year dominance in this space.
According to A December 12 report from Electric CapitalSolana saw 7,625 new developers join its ecosystem this year, surpassing Ethereum’s number of 6,456. This rise was largely driven by increased developer activity in Asia.
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The momentum started in July, when it officially overtook Ethereum in onboarding new developers for the first time since 2016. This trend continued through the remainder of 2024, with Solana developer activity growing 83% year over year.
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Solana data flips Ethereum data on more occasions
Notably, Solana also briefly surpassed Ethereum on two significant occasions. On March 18, Solana network activity surpassed Ethereum’s activity due to growing demand for Solana-based memecoins.
Later, on October 28, Solana’s daily network fees exceeded those of Ethereum 24 hour period.
While Solana’s growth is notable, Ethereum remains the leading ecosystem for overall developer activity. Despite a 17% drop in the number of monthly active developers, Ethereum still has 6,244 active contributors.
Additionally, Ethereum’s Layer 2 networks have grown by 64% since 2021, and 26% of all monthly cryptocurrency developers are now working on L2 and mainnet networks.
One of the notable growth stories on the Ethereum network is Eigenlayerkey Restock Protocol that It saw a 167% increase in developer engagement this year, making it the fastest growing ecosystem in 2024.
Electric Capital’s report highlights the broader global growth of the cryptocurrency developer community. In 2024, 39,148 new developers entered the cryptocurrency space, which represents a 7% decrease from 2023 numbers, but still has a significant global presence.
Africa, South America and Asia saw notable increases in developer activity, with Asia emerging as a major hub. The report reveals that one in three developers globally now resides in Asia, with India being a major contributor to the region’s growth in developer onboarding.
Meanwhile, the influence of cryptocurrencies extends across all time zones, with diverse regional preferences for cryptocurrency use cases.
Stablecoin transactions are most active during daylight hours in Asia, Europe, and Africa, while NFT trading peaks during US business hours. On the other hand, non-fungible token (NFT) minting sees its highest activity during the business day in Asia, reflecting regional differences in usage.
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A prominent Ethereum researcher joins SOL
Earlier this week, prominent blockchain researcher Max Resnick announced that he was moving from Ethereum infrastructure company ConsenSys to SOL-focused R&D firm Anza.
Announcing his move on December 9 via X, Resnick expressed his excitement for his new role, saying, “I’m bringing my talents to Solana.”
Last week was my last week at Consensys. Today is my first day in @anza_xyz.
I’ll take my talents to Solana.
In my first 100 days, I plan to write specifications for as much of the Solana Protocol as possible, prioritizing fee markets and implementing consensus where…
– Max Resnick (@MaxResnick1) December 9, 2024
Resnick previously led research in ConsenSys’s Special Mechanisms group, where he expressed support for alternative measurement models.
At Anza, Resnick will focus his first 100 days on the technical specifications of Solana’s fee markets and consensus mechanisms – two areas he sees as crucial to making a lasting impact.
Anza, best known for developing Solana’s Agave client, aims to improve the blockchain’s flexibility and uptime, both vital on its long-term sustainability.
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