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Ethereum Has The Highest Number Of Web3 Developers

Ethereum has around three times the number of developers as Polygon, the second-largest DeFi ecosystem.

Since 2017, Ethereum has been home to 30 percent of all full-time developers working in the Web 3.0 and DeFi ecosystems. While competitor blockchains grew at a far quicker rate in 2021, it is unclear whether such growth can be sustained in the long run.

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In the DeFi and Web 3.0 ecosystem, there are about 18,000 monthly active developers who contribute to numerous projects. According to Electric Capital data, nearly 4,000 of those developers work on Ethereum, accounting for more than 22 percent of all developers in the field.

Ethereum, being the largest DeFi ecosystem, routinely attracts between 20% and 25% of Web 3.0 developers. In general, approximately 700 developers join the Ethereum ecosystem on a monthly basis, which is an all-time high. According to the survey, more than 20% of new Web3 developers choose the Ethereum ecosystem over other blockchains.

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Each month, over 4,000 active developers work on Ethereum. Notably, 42 percent of that total, or 1,184 developers, have joined since January 2021. Over the last year, the number of active part-time developers on Ethereum has increased by 51%, while the number of full-time developers has increased by 24%.

The report reads,

“Ethereum continues to have the largest ecosystem of tools, apps, and protocols and is 2.8x larger than the second-largest ecosystem. One out of every five new developers coming into Web3 works on Ethereum.”

Simultaneously, Ethereum has experienced a minor increase in the number of developers working on its ecosystem. Currently, around 700 developers are working on Bitcoin, a 9 percent increase over the previous year. More specifically, the number of part-time developers in Bitcoin has increased by 14%, while full-time developers have increased by 8%.

However, the total number of developers who have joined Web 3.0 by 2021 is significant. According to reports, over 34,000 new engineers committed code to crypto projects in 2021, the greatest number in history. Furthermore, in the closing months of 2021, over 3,000 new engineers were joining crypto per month. 

According to the estimate, by 2021, nearly 60% of all developers and 45 percent of full-time developers would have joined Web 3.0. It went on to say that the number of developers rises as prices rise but does not fall during bear markets. According to Electric Capital:

“Monthly active developers have historically increased when prices increase, but stay flat even as prices fall. Across 2018 and 2019, monthly active developers have stayed flat around 11,000 even as prices fell more than 80% from the peak.”